The gift, made through the recently formed Jolie-Pitt Foundation, was presented on Tuesday, which would have been the late Wall Street Journal reporter's 43rd birthday.
"On this day our thoughts go out to Danny's family," Pitt and Jolie said in an exclusive statement released by their political advisor, Trevor Neilson, to PEOPLE. "The Daniel Pearl Foundation is celebrating this day, his birthday, with music festivals around the world. The festivals are a great reminder of not just Danny's work as a journalist but of his life and his love of music."
At the time of his death, Pearl was investigating links between the terrorist group Al Qaeda and Pakistan's Inter-Services Intelligence.
Pitt and Jolie formed their foundation last month in order to give away $2 million, to be evenly divided between the Global Action for Children and Doctors Without Borders, to help families affected by HIV/AIDS and extreme poverty.