Mr Gere used his co-star Jena Malone's Facebook page to set the record straight, writing that it was not he who had posted the blurb and that there was no truth to the $100 bills story.
He did say that the plight of New York's homeless had struck a chord and expressed willingness to participate in a conversation about solutions.
On October 8, this post on a fan page was widely circulated on social media.
Richard Gere will host a Q&A on Wednesday on Ms Malone?s Facebook page to discuss homelessness and how it impacts lives. He will be be joined by his Time Out Of Mind director, Oren Moverman.
In Time Out Of Mind, Richard Gere plays George, a mentally ill and unemployed man who drifts through the streets of New York. Jena Malone plays his daughter.