In 2002, Madsen was presented an award for his work with the Shriners Hospital for Children, and he gave a Porsche 928 for his casting Director friend Bruno Rosato. In September 2009, Madsen announced his participation in the Love Ride 26 to help raise money for local charities and those less fortunate. The charity included the celebrities, including Malcolm Forbes, Peter Fonda, Larry Hagman, Billy Idol and Bruce Springsteen among others. The event took place on October 25, 2009, but was canceled in two weeks due to poor ticket sales and a decline in sponsorship and vendor support. Madsen also has a line of hot sauces called American Badass. In 2016, Madsen hosted the event An Intimate Evening with Michael Madsen to benefit Children's Pediatric Cancer.