TALLAHASSEE—Gov. Ron DeSantis blasted a new report alleging that Hurricane Milton may be the most expensive storm in Florida history, pointing out that Hurricane Ian was likely worse and begging them to "give me a break."
According to Wall Street analysts, Milton's incurred damages could exceed $50 billion and leave behind devastation approaching $175 billion, says the CNBC report, published Tuesday and updated Thursday morning after the Category 3 storm barreled into Sarasota County Wednesday night.
"How the hell would a Wall Street analyst be able to know? It's been dark all day," Gov. DeSantis questioned, speaking to reporters at a Tallahassee press conference Thursday morning. "Give me a break on some of this stuff.
"I'm not saying there's not going to be damage—there will be a cut across the state in the way that Helene did not—but in terms of just right now, the morning after, if I think back to Hurricane Ian, I don't think you're looking at a similar amount of damage to Ian," he continued.
DeSantis pointed out that 2022's Hurricane Ian ushered in a 13-foot storm surge in the Fort Myers area while Milton's peaked at 10 feet in the Sarasota area. Overall, he said, the "worst-case scenario" for Milton did not happen; Tampa Bay is not underwater, and Hurricane Helene's storm surge in Taylor County was far worse with "biblical" flooding of up to 20 feet.
Because Ian, the most expensive storm in Florida history, cost over $112 billion in damages, DeSantis does not believe that Milton is "on the same level" as the 2022 storm.
Wall Street analysts disagree.
Initially published on Tuesday morning, Jefferies equity analyst Yaron Kinar told CNBC that a major hurricane impact in one of Florida's most populated regions—Tampa Bay—could result in a "mid-double-digit billion dollar loss."
"A 1-in-100 year event is estimated by some to result in $175 [billion] in losses for landfall in the Tampa region, and $70 [billion] in losses in the Fort Myers region," he said, speaking a day before the storm ended up hitting in between the two areas: Siesta Key in Sarasota County. While Tampa Bay avoided complete inundation, parts of Hillsborough and Pinellas were rocked by Milton.
The Tampa Bay Times headquarters was partially destroyed by a fallen crane and the Rays' Tropicana Field had its fabric roof turned into Swiss cheese by the storm. The extra damage is still being assessed by Florida crews.
Ahead of Milton's landfall around 8:30 p.m. Wednesday, at least 116 tornado warnings statewide were issued—a Florida record—with a confirmed 19 twisters touching down. The tornados ripped through cities like St. Lucie, Weston, and Fort Myers, claiming at least 4 lives near Fort Pierce.
Up to 80,000 people used city shelters Wednesday night as Pinellas County was battered by isolated rain of up to 18 inches, DeSantis said, and at least 48 people have been rescued by various search and rescue teams.
Nearly 3.4 million accounts in Florida are without power as of 10 a.m. after the state completed at least 635,000 restorations. Hardee County is hardest hit in terms of electricity, with 98% of the county without power.
However, Florida has 50,000 linemen at the ready to begin damage assessments and restorations, the Governor said.
