Cruz, Bardem and British writer/director Paul Haggis held a charity celebrity brunch on Sunday in Los Angeles to announce their very special plan.
About a 100 guests, including Nicole Kidman (who donated $250,000), Charlize Theron, Maria Bello and Gerard Butler showed up to the brunch, where they were treated to a performance by Sheryl Crow, reports People magazine.
And what happens when you get 100 mega stars together in the same room? You raise a ton of cash! They reportedly raised $4.5 million dollars that afternoon to help the children of Haiti.
Just last week Penelope told E! News, "We are very lucky to be here, celebrating cinema... but it's impossible to think about anything else than the terrible disaster that is going on in Haiti.
"Our dear friend Paul Haggis... is on his way there now... I encourage people to look at the website, Artists for Peace & Justice, and to do whatever they can because everything counts, everything will make a difference to somebody else's life."
It's so great to hear these stories. Celebrities know they have a lot of influence, so when they use it for the good, it's always very inspiring.