The Los Angeles fires are set to be the costliest in the US history surpassing even the campfire in paradise, California of 2018. The Los Angeles fires are estimated to cost a total of about $50 billion in losses. Insured losses are estimated to be $20 billion according to J.PMorgan analyst Jimmy Bhullar. The total losses are about 4% of the GDP of the state of California.

These wildfires were caused by strong winds , the hurricane force-winds. More than 1000 structures are reduced to ash and over 15000 more are at risk. This has left many people homeless at the moment with thousands of people being evacuated at the moment.

The death toll resulting from the fires is said to be more than 5 people at the moment, according to the Wall Street Journal. The costs from Property loss, response and clean up tied to fires in the state of California are calculated at about 11.4 billion dollars annually from 2017- 2021. 

These Hollywood fires have ravaged very expensive neighborhoods including homes of celebrities in the areas of Malibu and Pacific Palisades. These has further increased the losses from the fires as the median cost of homes in these places is 3 million dollars, about 11 billion Uganda shillings.

The increase in wildfires in recent years in places like California is attributed to climate change.