The two have already raised over $36 million (USD) in the first day.
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Just this past Sunday, Epic Games announced that they are donating all proceeds from Fortnite to helping the people in Ukraine that have been suffering at the hands of the Russian invasion. This program will run for a period of two weeks, starting from yesterday, March 20 and through to April 3, 2022.

If you would like to help out, feel free to make new purchases of V-Buck packs, Fortnite Crew, Battle Passes (or gifted Battle Passes), and cosmetic packs. Now, you could use Epic Creator Code "zips" at checkout if you wish to help this site out at the same time, or you don't have to. Epic says that using creator codes has no impact on the amount of money being raised for this. To speak frankly here: Just the fact that you're getting things and helping this charity drive is far more important than anything else.

Xbox has also joined up with Epic on this endeavor. Xbox is "committing their net proceeds for Fortnite during this (same stretch of time)."

Together, Epic and Xbox will be offering their support to four different humanitarian relief organizations: Direct Relief, United Nations Children's Fund (UNICEF), United Nations World Food Programme (UNWFP), and UNHCR - The UN Refugee Agency.

These groups are already busy providing emergency aid, health support, fresh food, clean water, essential supplies, legal aid, and shelter to the victims in Ukraine.

Just in the first 24 hours, Epic Games and Xbox have already raised $36 million (USD) in funds. According to the FAQ set up by Epic, these funds will be sent out "as quickly as (they) can."

HOW QUICKLY IS EPIC SENDING FUNDS TO THE RELIEF ORGANIZATIONS?
As quickly as we can. We’re not waiting for the actual funds to come in from our platform and payment partners, which can take a while depending on how the transaction was processed. As transactions are reported, we’ll log them and send the funds to the humanitarian relief organizations within days.


WHAT PURCHASES COUNT TOWARDS SUPPORTING PEOPLE AFFECTED BY THE WAR IN UKRAINE?

All real-money Fortnite purchases made between March 20, 2022 and April 3, 2022 will be distributed. This includes V-Buck packs, Fortnite Crew, gifted Battle Passes, and cosmetic packs such as the Voidlander Pack sold for real money. Retail store purchases of in-game cosmetics and V-Bucks cards will also be included if they are redeemed in-game during this window.

Using V-Bucks in Fortnite will not be included as those are not real-money purchases.

100% of Epic’s Fortnite proceeds is equal to the gross purchase price of all Fortnite in-game purchases or retail purchase redemptions transacted between March 20, 2022 and April 3, 2022 from sales throughout the world, excluding taxes, third-party platform fees, refunds, returns, or reversals.

Microsoft is contributing net proceeds from all sales of Fortnite content on Microsoft Store between March 20, 2022 to April 3, 2022, in all countries where Fortnite is sold. Net proceeds is equal to the gross proceeds net of returns & chargebacks, billing costs, bandwidth cost, operations cost, and taxes.
Epic also notes that funds from new, existing, and re-activated Fortnite Crew subscriptions processed between March 20, 2022 and April 3, 2022 will be included in these funds.

They also say that if you don't want your Fortnite purchases to go towards the relief efforts, you can just not purchase anything until April 4th or later.