Due to Covid-19 restritcions this year's event took place virtually on Friday night – with participants encouraged to create their own sleepout experience from home.
Whether it was camping out in their gardens, or setting up their sleeping bags in their garages, more than 100 people took part in the event to raise funds for the Wolves Foundation and the Good Shepherd.
More than £12,600 had been raised by Saturday morning – with donations still rolling in.
Demi Grundy, communications and fundraising manager for Wolves Foundation, said: "The event was really, really successful. We have so far raised more than £11,800 through our JustGiving page and £800 in terms of tickets, and hopefully that amount will continue to grow.
"Even though we were all apart this year, it felt like we were more together than ever. Everyone had the same need to raise much-needed awareness and funds for homelessness and food poverty.
"The importance of the event was to give participants the feeling of being homeless, we all really tried to sleep rough and it was cold, wet and windy. Everyone was struggling. But it is only a toe-dip into what it is like to be homeless.
"Those that are homeless don't have the countdown to getting back to their home comforts like we did this morning. It was a powerful event and we all came away feeling very emotional and proud of ourselves."
Throughout the night and in the morning, participants were kept entertained with Zoom calls with Sky Sports' Johnny Phillips, and Wolves legends Steve Bull, Connor Coady, Matt Murray, Karl Henry and Carl Ikeme.
Among those who took part were Wolverhampton South West MP Stuart Anderson and his family who raised more than £500.
Before the event, the Conservative MP said: "Reducing food poverty is a key priority, and I welcome the unprecedented level of support that the Government has made available to families in light of the situation regarding coronavirus.
“Our work is not done until food poverty is eradicated, and that is why I am taking part in the Molineux Sleepout 2020 – to raise the profile of this issue and to raise funds for two fantastic local charities."
TV presenter Mark Rhodes, Wolves Foundation ambassador, said: "We are hugely grateful for all the amazing supporters that slept out in their homes to raise vital funds for both the Wolves Foundation and the Good Shepherd.
"Now the event aimed to help those who are vulnerable at this time, and with your support we are able to continue to aid the prevention of food poverty in our wonderful city.
"The JustGiving page is live until the end of the year, so share your stories, post your pictures from the event. A massive, massive well done and see you again next year – and hopefully back in the stands."
The first ever Molineux Sleepout event last year helped raise more than £50,000. It saw around 150 people wrap up in dozens of layers and grab their sleeping bags to spend the night in the Stan Cullis Stand at Molineux.
To donate, visit justgiving.com/campaign/VirtualMolineuxSleepout2020.