The FireAid benefit concert in Los Angeles raised over $100 million (A$160.077 million) for fire recovery and prevention efforts.
The star-studded event featured performances from renowned artists like Billie Eilish, Katy Perry, and the Red Hot Chili Peppers, and was streamed by over 50 million viewers across 28 platforms.
Funds were raised through ticket sales, sponsorships, merchandise sales, and public donations, with significant contributions from private donors such as the Azoff family, the Eagles, and U2.
L.A. Clippers owner Steve Ballmer and his wife Connie matched every dollar raised, doubling the total amount.
The funds raised are managed by the Annenberg Foundation, a well-established L.A.-based non-profit organisation.
The distribution of these funds will focus on both short-term relief efforts and long-term initiatives to prevent future large-scale fires in Southern California.
The FireAid Grants Advisory Committee is actively working with affected communities to identify resource gaps and ensure aid reaches those most in need.
The L.A. fires have devastated the economy. The fires, which began in January, destroyed over 13,000 structures and caused more than $250 billion in damages. This made it one of the costliest natural disasters in U.S. history.
The destruction has led to significant displacement, with tens of thousands of people losing their homes and possessions. Insurance companies are struggling to cover the extensive damages, and many homeowners are finding it difficult to secure coverage due to the increased risk of wildfires.
The fires have also profoundly affected the local real estate market. With thousands of residential and commercial properties destroyed, the market is expected to face uncertainty and volatility in the coming years. The state government has responded with various measures, including tax relief and expedited rebuilding processes, to support affected residents and businesses.
