With at least five people dead and more than 2,000 homes, businesses, and other buildings destroyed, the total damage and economic loss from the current wildfires in the Los Angeles area is estimated to be between $52 billion and $57 billion, according to preliminary figures.
Chief Meteorologist at AccuWeather, Jonathan Porter said, “This is a fast-moving, wind-driven inferno that is threatening lives and causing catastrophic damage. AccuWeather experts estimate the total damage and economic loss from the windstorm and wildfires in Southern California is between $52 and $57 billion.”
Approximately 130,000 Los Angeles County residents are under evacuation orders with red flag warnings remaining in effect in many areas for today.
The fires began Tuesday and are still uncontained in the Palisades, Eaton, Hurst, Lidia, and Sunset areas.
Porter, added, “Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss.”
According to AccuWeather, the total damage and economic loss from the 2023 Maui wildfires was estimated at $13 billion to $16 billion, while hurricanes Helene and Milton caused damages amounting to nearly half a trillion dollars.
If the LA County wildfires spread further into densely population suburbs, the projected economic losses will be raised.
By CEO NA Editorial Staff
