Following Band Aid's 1984 "Do They Know It's Christmas?" project in the United Kingdom, an idea for the creation of an American benefit single for African famine relief came from activist Harry Belafonte, who, along with fundraiser Ken Kragen, was instrumental in bringing the vision to reality.
Several musicians were contacted by the pair, before Jackson and Richie were assigned the task of writing the song. The duo completed the writing of "We Are the World" seven weeks after the release of "Do They Know It's Christmas?", and one night before the song's first recording session, on January 21, 1985. The historic event brought together some of the most famous artists in the music industry at the time.
The song was released on March 7, 1985, as the first single from the album. A worldwide commercial success, it topped music charts throughout the world and became the fastest-selling American pop single in history. The first ever single to be certified multi-platinum, "We Are the World" received a Quadruple Platinum certification by the Recording Industry Association of America.
Awarded numerous honors—including three Grammy Awards, one American Music Award, and a People's Choice Award—the song was promoted with a critically received music video, a home video, a special edition magazine, a simulcast, and several books, posters, and shirts.
The promotion and merchandise aided the success of "We Are the World" and raised over $63 million (equivalent to $144 million today) for humanitarian aid in Africa and the US.
Following the devastation caused by the magnitude 7.0 Mw earthquake in Haiti on January 12, 2010, a remake of the song by another all-star cast of singers was recorded on February 1, 2010. Entitled "We Are the World 25 for Haiti", it was released as a single on February 12, 2010, and proceeds from the record aided survivors in the impoverished country.
According to wikipedia