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California Wildfire Damages and Economic Loss Estimated at Over $50 Billion
The WrapStory by Tess Patton
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The Palisades fire leaves a staggering $50 billion price tag in its wake, devastating California's economy and residents.
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- According to state officials, the Palisades fire has caused an estimated $50 billion in damages, making it one of the costliest natural disasters in California's history.
- Experts predict the economic ripple effects of the Palisades fire will be felt for years, with small businesses and the tourism industry hit especially hard.