The devastating wildfires in Los Angeles, California, could result in a loss of $57 billion, according to weather website AccuWeather.
The British media outlet BBC reports that vast areas of Los Angeles are burning in the fires. Thousands of homes and vehicles have been reduced to ashes. So far, at least five people have died, and many others have been injured. This could become the most catastrophic wildfire in U.S. history.
Firefighters are struggling to contain the fires raging across five counties in Los Angeles. Strong winds are hindering efforts to extinguish the blaze and are fueling its spread further. The wildfires are spreading so rapidly that while one area is being controlled, even larger areas are catching fire at the same time.
So far, the fire has burned 27,000 acres of land, leaving nothing intact in those areas. The wildfire, which began on Wednesday (January 8) in Hollywood Hills, has affected ordinary people as well as many high-profile Hollywood celebrities.
The homes of celebrities like Jennifer Aniston, Bradley Cooper, Tom Hanks, Ben Affleck, Michael Keaton, and Adam Sandler have been destroyed by the fire, leaving many of them homeless. Actress and model Paris Hilton has also been displaced due to the wildfire.