Gibbs became the first man to hit six sixes in an over in one-day cricket during South Africa's Group A match against the Netherlands at Warner Park on Friday.
His historic feat cost leading drinks firm Johnnie Walker one million dollars had announced they would donate the money to charity in honour of the first player to register the landmark.
"Gibbs' feat was a wonderful achievement and more cherishing is the fact that it going to help enhance charity," said Sobers, who hit six sixes in an over in a first-class match for Nottinghamshire against Glamorgan at Swansea in 1968.
The donation will help Habitat for Humanity in Trinidad to build 70 houses for 500 homeless people, a cause Gibbs said he was happy to contribute.
"It's a huge privilege to have helped a noble cause, more so getting this honour in the presence of a man who did the feat first, a true legend of the game. I am satisfied to give smiles to people," said Gibbs, who recorded his feat against leg-spinner Dan van Bunge.
Sobers said South African players were after his records.
"(Jacques) Kallis toppled my allrounder's record, but as they say, the records are meant to be broken and if they are for the enhancement of charity they are more welcoming," said Sobers, a world class all-rounder.
Remembering his six sixes feat, Sobers said his was different from that of Gibbs.
"There was no pressure and we wanted some quick runs in that match. I used to follow (former West Indian great) Lord Constantine's saying that 'if you want quick runs hit in the air where there would be no one to catch you'.
"I decided it (to hit six sixes) after the fifth ball which was a doubt but the umpire cleared it as six.
"Gibbs created history in a different arena. The World Cup is a different category. What is the common thing is that Gibbs put St Kitts on the map as I did to Glamorgan and I keep reminding them that nobody knew Glamorgan before my feat."
Sobers, who held the record of highest Test innings with 365 which stayed until Brian Lara (376) broke that record in 1994, laughed off the feat.
"Wherever I have gone since 1968 people recognised me by saying that he is the man who hit six sixes and it left me thinking that it was the only thing I have done in cricket."