US private forecaster AccuWeather said on Wednesday that estimated damage and economic loss from the California wildfire, already one of the worst in history, is over $50 billion at a preliminary level.
Raging wildfires in Los Angeles killed at least two people, destroyed hundreds of buildings and stretched firefighting resources and water supplies since they began on Tuesday, with fierce winds hindering firefighting operations and fueling the fires.
AccuWeather, which estimates the loss between $52 billion and $57 billion, added that if the fire spread to densely populated neighborhoods the current estimates for loss would have to be revised upward.
"Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss," AccuWeather Chief Meteorologist Jonathan Porter said.