The fund will go specifically to independent record labels who have a direct deal with the service.
Estimations had live concert revenue for 2020 at a record-breaking $12.2 billion.
Spotify's request to have the case moved to New York for their convenience has been denied.
The deal will finally allow listeners in India to enjoy Warner Music's catalog.
The media giant and Country Music trade association have pledged $10m and $1m, respectively.
After signing the paperwork back in December, the €3bn deal for a 10% stake has now closed.
The funds will be given as three $100,000 donations to two arts-related charities and a food bank in Las Vegas.
The former politician will officially take up the role in April, with plans to first tackle the COVID-19 fallout.
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