LA wildfires destroy £40bn worth of Hollywood mansions including one costing £19m

Huge fires in have reportedly caused around $50billion worth of damage, equivalent to £40.7billion, including the destruction of homes.

have suffered huge personal tragedies as blazes sweep .

At least 10 people are believed to have been killed, and officials have warned that more high winds could further fan the flames.

One of the houses that is believed to have been destroyed is that of Candy Spelling, a successful author and producer.

Her $24million (£19.5m) home was located on Malibu’s Pacific Coast Highway.

Ms Spelling told TMZ: “I’m in shock and processing this massive loss for our family.

“I am beyond grateful for the memories. It was truly a wonderful gift to have.”

She told that her late husband and TV producer, Aaron Spelling, had also loved the house.

The site reports that the producer previously listed the house for sale for $24million (£19.5million), but then took it off the market.

Ms Spelling’s friend Josh Flagg said: “I’m devastated. I have so many memories in this house.

“The house is gone but the memories are not. This is a total shame. This entire fire is a shame. This did not need to be happen.”

Another incredibly expensive home, Tom Hanks’ $26million (£21.2m) house in the Pacific Palisades, has reportedly narrowly avoided the flames raging nearby.

reports that private forecaster Accuweather has said that losses are likely to range between $52billion (£42.3 billion) and $57 billion (£46.4 billion).

It is thought that more than 2,000 structures have burned down, and least 180,000 people are now under evacuation orders after sic wildfires spread across Los Angeles County.

The flames were spread by high winds of up to 100mph, which initially stopped firefighters from tackling them from the air.

The situation has led to award ceremonies being postponed. The AFI Awards, for example, had been scheduled for Friday.