Los Angeles Wildfires Could Cost $135-$150 Billion, Claim 16 Lives

Jan 12, 2025, 04:45 AM

The wildfires that have erupted across Los Angeles County are projected to be among the costliest natural disasters in U.S. history. The devastating blazes have resulted in at least 16 fatalities and have destroyed more than 12,000 structures since they began. Early estimates from AccuWeather suggest that the damage and economic losses could range between $135 billion and $150 billion. These fires, fueled by hurricane-force Santa Ana winds and extreme drought conditions, have ravaged densely populated areas with high-value real estate, including Pacific Palisades and Malibu. The scale and intensity of the fires, combined with their geographic impact, indicate a significant economic toll, with potential losses reaching nearly 4% of California's annual GDP.