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Final economic damage range of LA wildfires by June 30, 2025?
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Los Angeles County•Palisades Fire•Eaton Fire•Santa Monica•Malibu•Jonathan Porter•AccuWeather•California•Hollywood•Biden•Italy
Resolution / Starting Odds
$52 billion to $57 billion • 25%
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Finalized economic damage reports from AccuWeather or official California state assessments
Story
Los Angeles Wildfires Cause $52 to $57 Billion in Damages, 5 Deaths, and Evacuation of 130,000
Jan 9, 2025, 02:24 PM
The wildfires raging across Los Angeles County, including the Palisades Fire and the Eaton Fire, are projected to be the costliest in U.S. history, with preliminary estimates from AccuWeather Inc. suggesting economic losses and damages ranging from $52 billion to $57 billion. The fires, which have already claimed five lives and destroyed over 1,000 structures, are impacting areas from Santa Monica to Malibu, where median home values exceed $2 million. Jonathan Porter, AccuWeather's chief meteorologist, stated that if the fires continue to spread and burn additional structures, they could become the worst in modern California history in terms of economic loss and structures destroyed. The disaster has led to the evacuation of approximately 130,000 people and has disrupted numerous events, including Hollywood activities and school operations. President Biden canceled a planned trip to Italy to oversee the response to the wildfires.
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