12 lakh crore loss due to fire in America
"Hollywood blaze consumes luxury homes, prompts criticism over budget cuts affecting firefighting efforts."

A massive fire in Los Angeles, USA, has reportedly caused damage worth INR 1.2 trillion. The fire has destroyed entire homes, while thousands of vehicles parked in lines have been consumed by flames. President Joe Biden has declared the fire a national disaster. The blaze broke out in areas around Hollywood, home to some of the richest individuals not just in the US but in the world. This explains the staggering financial losses incurred due to the fire.
Among those affected is Austin Russell, CEO of tech company Luminar Technologies. His mansion, worth $125 million (approximately INR 10,770 crore), has been completely destroyed, with images of the aftermath going viral on social media. Once a luxurious property with 18 bedrooms, lush gardens, and exquisite drawing rooms, the mansion is now reduced to ashes. Most of the structure has collapsed due to the intense flames, and the once-famous furniture now lies in ruins. The property was known for its grandeur, and as of 2023, its monthly rental value exceeded INR 4 crore, with earlier reports mentioning a monthly rent of INR 3.74 crore. The mansion’s kitchen, famous for its stunning design, also garnered global attention.
Inside the mansion were features such as a private theater and an air-conditioned basement, which have now been completely destroyed. The master bedroom, two panic rooms, a rooftop deck, spa, and car gallery have all been reduced to rubble.
Meanwhile, the fire has sparked political debate in the US. Fire Department Chief Kristin Crowley stated that budget cuts by city leaders have left the department ill-equipped to handle such disasters. She mentioned that firefighters lacked essential equipment, which compromised their ability to respond effectively.
In response, Mayor Karen Bass defended the budget cuts, citing difficult economic conditions as the primary reason. Reports suggest that the city administration had slashed the fire department’s budget by $17 million, which led to a shortage of critical firefighting resources during the crisis.