"Finally!!! After a huge amount of red tape,$99,922.36 has today been transferred to the Christchurch Foundation and Victims Support," he said on Instagram last night.
"For those of you who don't know, there were two GoFundMe pages set up to help cover the cost of my legal fees and to 'buy more eggs'.
"Gratefully, Gordon Legal acted pro-bono for me so I don't have any legal fees.
"I decided to donate all monies to help provide some relief to the victims of the massacre... it wasn't mine to keep."
Within an hour so of posting his message to Instagram "Egg Boy" had received countless comments and more than 40,000 likes.
Following the egging incident, Connolly spoke to The Project Australia and said "it was not the right thing to do".
"I understand what I did was not the right thing to do and I can understand why some people react the way they did," the teenager said.
Connolly said there was "no reason to physically attack anyone" ever and his mother was "glad I stood up for what I believe in but she definitely disagrees with the way I did it".
"I understand what I did was not the right thing to do, however, this egg has united people, and money has been raised, tens of thousands of dollars has been raised for those victims," he added.
The teenager, who described himself as "pro-humanity" rather than political, said he had listened to the senator speak for an hour before deciding to egg him.
Elsewhere, Connolly became a meme sensation following the run-in with Anning.
Memes exploded on social media hailing him as an "unsung hero" following the dark days after the attack.
