Guy Fieri will hand out $300,000 in grants to restaurant entrepreneurs during Guy’s Restaurant Reboot, streaming June 12

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Credit: Neil Husvar/Goldenvoice

Guy Fieri has already moved mountains for the restaurant industry, and he's not slowing down anytime soon.

The Food Network superstar — who raised more than $25 million to give as $500 grants to restaurant workers affected by COVID-19 — is hosting a free live stream event on June 12 to support the industry, inspire the next generation of cooks, and of course, hand out more money to those who need it.

For Guy's Restaurant Reboot, airing at 7 p.m. ET on LiveXLive, YouTube, Twitch, TikTok, and Twitter, the Diners, Drive-Ins and Dives star called upon celebrities like Shaquille O'Neal, Rob Gronkowski, Wale, and Adriana Lima, and chefs like José Andres, Cat Cora, and Buddy Valastro to host different segments throughout the night.

The chefs will participate in round table talks, while O'Neal, Gronkowski and more will visit some of their favorite restaurants to cook with the owners.

"The restaurant industry is going through such a tough time so we're trying to build energy, build momentum, enthusiasm, and talk about everything and anything that has to do with the restaurant industry," Fieri tells PEOPLE.

Old Dominion and Diplo will also perform.

Guy’s Restaurant Reboot

During the event, which is sponsored by LendingTree, Pepsi, and Cascade among others, Fieri will hand out $300,000 worth of grants to culinary entrepreneurs.

"This is about money, but it's also about awareness. This is about recognition and inspiration," says Fieri, who is co-hosting the event with chef Antonia Lofaso. "We're trying to get everybody to just believe and understand just how important this industry is to all of us in so many different ways."

Watch Guy's Restaurant Reboot on June 12 at 7 p.m. ET on social media, or go to guysrestaurantreboot.com.