More than 10,000 buildings have been destroyed in the fires in the Los Angeles area in the past three days, authorities said.
According to estimates by companies, the damage could reach up to $ 150 billion, the BBC reported.
Residents, who were evacuated from areas affected by the fires, returned to the places that burned in the fire, and many of them had their homes burned to the ground.
The company AccyWEather almost tripled its preliminary estimate of the total damage from the wildfires in California in just 24 hours.
According to the latest estimate, the damage could be up to $ 150 billion, while the initial estimate of damage was $ 57 billion.
The fires have affected areas with some of the most expensive real estate in the United States. The fire department said more than 5,300 properties were destroyed in the fire in Pacific Palisades, an upscale Los Angeles suburb, while between 4,000 and 5,000 structures were damaged or destroyed in the Eaton fire.
Analysts at Morningstar and JP Morgan predict that insurance will pay out losses of more than $8 billion.
The death toll in the fires that have swept through the Los Angeles area has risen to 10, US media reported. The fires have burned more than 58 square miles (142 square kilometers) of land. About 180,000 people have been ordered to evacuate, CBS reported.
The largest fire in Pacific Palisades, an upscale Los Angeles suburb, was six percent contained as of Thursday evening, according to the California Department of Forestry and Fire Protection. At least six fires are currently raging in Los Angeles and neighboring Ventura County, and none of them have been contained, except for the Woodley fire.
