The wildfires in **Los Angeles** are the most devastating the city has experienced, with **over 10,000 structures** destroyed since they began on **January 7**.
Approximately **150,000 residents** are currently under **evacuation orders**, highlighting the widespread impact of these fires.
The **Palisades fire** is the largest blaze, burning **20,438 acres** with only **8% containment** reported.
Preliminary loss estimates are between **$52bn to $57bn**, raising concerns about insurance costs and the economic impact of the disaster.
President **Joe Biden** has authorized federal funding for **100% of fire response costs** for the next 180 days to support recovery efforts.