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The phrase "a staggering sum of" is correct and usable in written English.
It can be used to emphasize the impressiveness or unexpectedness of a large amount of money or quantity.
Example: "The charity received a staggering sum of donations, allowing them to expand their outreach programs significantly."
Alternatives: "an astonishing amount of" or "an incredible total of".
Exact(7)
They have talent, they have grace and they have a staggering sum of superstition.
These days, whenever a moderate English player is transferred for a staggering sum of money – usually to Liverpool – all protests about the iceberg-sized fee are hushed immediately by the uttering of a simple mantra, "English Premium".
It is a staggering sum of money, far more than he could ever have gotten if, like Wilpon and Katz, Picower's widow Barbara had chosen to wrangle with the trustee in court.
When the British journalist David Frost secured his interview with Richard M. Nixon in 1976, it was because he outbid his American competitors, offering the former president a staggering sum of $600,000.
The 2013 acquisition was huge with a staggering sum of money involved.
The bailout involves a staggering sum of federal money.
Similar(53)
He called the award "a staggering sum for an individual prize," not "a staggering amount of money for a scientist".
Although this was a staggering sum for a six-year-old machine, it would launch Sheene's international reputation.
A staggering sum for an independent outfit like this.
This is a staggering sum for a city that now has only 152,000 people in it.
O'Rourke alone has raised $31 million from small donors, a staggering sum for a Senate race.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com