Damages And Economic Loss From Southern California Wildfires Could Hit $150 Billion

Firefighters spray water on a destroyed home in Malibu, Calif., amid the ruins of other structures burned down by the Palisades Fire. (Credit: Mario Tama/Getty Images)

The wind-whipped wildfires that have killed at least 10 people and burned tens of thousands of acres in Southern California could cause as much as $150 billion in damages and economic loss, AccuWeather reported Friday citing updated estimates.

"These fast-moving, wind-driven infernos have created one of the costliest wildfire disasters in modern U.S. history," AccuWeather Chief Meteorologist Jonathan Porter said.