Southern California wildfires cause up to over $250 billion in damage

The wildfires sweeping through Southern California have resulted in damage ranging from $250 billion to $275 billion.

This exceeds the losses from other major recent natural disasters, such as Hurricane Helene in the previous year and the Maui wildfires of 2023, Caliber.Az reports via foreign media.  

“This is already one of the worst wildfires in California history. 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,” AccuWeather chief meteorologist Jonathan Porter said in an article.  

The two largest fires, Palisades and Eaton, have completely destroyed over 12,000 buildings. The Palisades Fire has ravaged some of the nation's priciest real estate, located between Santa Monica and Malibu, where median home prices exceed $2 million, according to AccuWeather.

The US Fire Administration reports that the Maui wildfires in August 2023 destroyed more than 2,200 structures, causing an estimated $5.5 billion in damages. Hurricane Helene caused $225 billion to $250 billion in damage in September, as it swept across the coastal South, bringing record-breaking rainfall, according to AccuWeather.

The Palisades Fire, a roaring blaze that has burned nearly 20,000 acres since it broke out on January 7 morning in the affluent Pacific Palisades neighborhood of Los Angeles, is currently the largest wildfire in the region. It grew out of a brush fire that exploded as powerful winds ripped through the area.

Wildfires surrounding Los Angeles intensified on January 8, spreading to the iconic Hollywood Hills, leaving devastation in their wake. Wildfires ravaging the Los Angeles area have destroyed multiple celebrity homes and disrupted Hollywood's busy awards season. California firefighters continue battling the fires, with strong winds exacerbating the situation. The fires have destroyed iconic landmarks, including the historic Will Rogers ranch and parts of the Palisades Charter High School.

By Naila Huseynova