America


California Reeling From Wildfire Devastation


Losses could top $275 billion — 7% of state’s GDP.


T


he wildfires that erupted across Los Angeles County in January are among the cost- liest natural disasters in U.S.


history. The devastating blazes, fueled by hurricane-force Santa Ana winds and an extreme drought, killed dozens of people and incinerated over 12,000 structures, laying waste to entire neigh- borhoods once home to multimillion- dollar properties. A preliminary estimate by Accu-


Weather put the damage and economic losses at $250-$275 billion. By compari-


16 NEWSMAX | FEBRUARY 2025


son, AccuWeather estimated Hurricane Helene, which tore across six southeast- ern states last fall, at $225 billion to $250 billion. “This will be the costliest wildfire


in California modern history and also very likely the costliest wildfire in U.S. modern history, because of the fires occurring in the densely populated areas around Los Angeles with some of the highest-valued real estate in the country,” said Jonathan Porter, Accu- Weather’s chief meteorologist. The forecaster factors in a mul-


titude of variables in its estimates, including damage to homes, busi- nesses, infrastructure, and vehicles, as well as immediate and long-term healthcare costs, lost wages, and sup-


ply chain interruptions. A total damage and economic loss of


$275 billion from this wildfire disaster “would represent almost 7% of the GDP of the state of California,” Porter said. Credit ratings agency Moody’s also concluded that the wildfires would prove to be the costliest in U.S. history, specifically because they have ripped through densely populated areas with higher-end properties. “The scale and intensity of the blaz-


es, combined with their geographic footprint, suggest a staggering price tag, both in terms of the human cost and the economic toll,” Moody’s analysts wrote. It will be several months before a


concrete tally of the financial losses from the wildfires will be possible.


DAVID HUME KENNERLY/GETTY IMAGES


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100