The donation includes funding for legal fees for Arbery and Taylor's families, along with black-owned businesses in crisis in his native Chicago and other cities.
West's representative said he established a 529 education plan to fully cover college tuition for Gianna Floyd, the 6-year-old daughter of George Floyd.
West's donation comes as demonstrations against Floyd, Arbery and Taylor's deaths have taken place around the world. Many voices in entertainment are calling for an end to systematic racism, police brutality and action from political leadership.
Three of the Minneapolis Police officers arrested in Floyd's death make their first court appearance Thursday afternoon, as the Floyd family holds the first of several planned memorial services.
Derek Chauvin, the officer who pinned Floyd to the ground by his neck for nearly 9 minutes, was arrested last week and charged with third-degree murder and second-degree manslaughter. On Wednesday, prosecutors charged him with a more serious count of second-degree murder.
Arbery, a black man, was fatally shot while jogging just outside Brunswick, GA., on February 23. Three white men have been arrested in his death.
Taylor was an EMT who was shot at least eight times in March when three officers entered her Kentucky apartment by force. The FBI has opened an investigation into her death.
Apple is tracking iPhones stolen from its stores