Most Expensive Catastrophes in History

11 Most Expensive Catastrophes in History 
# 11. Titanic - $150 Million 
The sinking of the Titanic is possibly the most famous accident in the world. But it barely makes our list of top 10 most expensive. 
On April 15, 1912, the Titanic sank on its maiden voyage and was considered to be the most luxurious ocean liner ever built. 
Over 1,500 people lost their lives when the ship ran into an iceberg and sunk in frigid waters. 
The ship cost $7 million to build ($150 million in today 's dollars.
 
 

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# 10. Tanker Truck vs Bridge - $358 Million 
On August 26, 2004, a car collided with a tanker truck containing 32,000 liters of fuel on the Wiehltal Bridge in Germany . 
The tanker crashed through the guardrail and fell 90 feet off the A4 Autobahn resulting in a huge explosion and fire which 
destroyed the load-bearing ability of the bridge. Temporary repairs cost $40 million and the cost to replace 
the bridge is estimated at $318 Million.
 
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# 9. MetroLink Crash - $500 Million 
On September 12, 2008, in what was one of the worst train crashes in California history, 25 people were killed when a Metrolink 
commuter train crashed head-on into a Union Pacific freight train in Los Angeles . It is thought that the Metrolink train may have run 
through a red signal while the conductor was busy text messaging.. 
Wrongful death lawsuits are expected to cause $500 million in losses for Metrolink. 
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# 8. B-2 Bomber Crash - $1.4 Billion 
Here we have our first billion dollar accident (and we ' re only #7 on the list). This B-2 stealth bomber crashed shortly after taking off 
from an air base in Guam on February 23, 2008. Investigators blamed distorted data in the flight control computers caused by moisture 
in the system. This resulted in the aircraft making a sudden nose-up move which made the B-2 stall and crash. 
This was 1 of only 21 ever built and was the most expensive aviation accident in history. Both pilots were able to eject to safety.
 


# 7. Exxon Valdez - $2.5 Billion 
The Exxon Valdez oil spill was not a large one in relation to the world ' s biggest oil spills, but it was a costly one due to the remote location 
of Prince William Sound (accessible only by helicopter and boat). On March 24, 1989, 10.8 million gallons of oil was spilled when the ship ' s 
master, Joseph Hazelwood, left the controls and the ship crashed into a Reef. The cleanup cost Exxon $2.5 billion.
 

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# 6. Piper Alpha Oil Rig - $3.4 Billion 
The world ' s worst off-shore oil disaster. At one time, it was the world ' s single largest oil producer, spewing out 317,000 barrels 
of oil per day. On July 6, 1988, as part of routine maintenance, technicians removed and checked safety valves which were essential 
in preventing dangerous build-up of liquid gas. There were 100 identical safety valves which were checked. Unfortunately, the technicians 
made a mistake and forgot to replace one of them. At 10 PM that same night, a technician pressed a start button for the liquid gas pumps and the 
world ' s most expensive oil rig accident was set in motion. Within 2 hours, the 300 foot platform was engulfed in flames. 
It eventually collapsed, killing 167 workers and resulting in $3.4 Billion in damages.
 
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# 5. Challenger Explosion - $5.5 Billion 
The Space Shuttle Challenger was destroyed 73 seconds after takeoff due on January 28, 1986 due to a faulty O-ring. It failed 
to seal one of the joints, allowing pressurized gas to reach the outside. This in turn caused the external tank to dump its payload 
of liquid hydrogen causing a massive explosion. The cost of replacing the Space Shuttle was $2 billion in 1986 ($4.5 billion in 
today ' s dollars). The cost of investigation, problem correction, and replacement of lost equipment cost $450 million 
from 1986-1987 ($1 Billion in today ' s dollars).
 
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# 4. Prestige Oil Spill - $12 Billion 
On November 13, 2002, the Prestige oil tanker was carrying 77,000 tons of heavy fuel oil when one of its twelve tanks burst during a storm off 
Galicia , Spain . Fearing that the ship would sink, the captain called for help from Spanish rescue workers, expecting them to take the ship into 
harbour. However, pressure from local authorities forced the captain to steer the ship away from the coast. The captain tried to get help 
from the French and Portuguese authorities, but they too ordered the ship away from their shores. The storm eventually 
took its toll on the ship resulting in the tanker splitting in half and releasing 20 million gallons oil into the sea.
 
According to a report by the Pontevedra Economist Board, the total cleanup cost $12 billion. 
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# 3. Space Shuttle Columbia - $13 Billion 
The Space Shuttle Columbia was the first space worthy shuttle in NASA ' s orbital fleet. It was destroyed during re-entry over Texas on 
February 1, 2003 after a hole was punctured in one of the wings during launch 16 days earlier. The original cost of the shuttle was $2 Billion in 1978. 
That comes out to $6.3 Billion in today ' s dollars. $500 million was spent on the investigation, making it the costliest aircraft accident investigation 
in history. The search and recovery of debris cost $300 million. In the end, the total cost of the accident (not including replacement of the shuttle) came 
out to $13 Billion according to the American Institute of Aeronautics and Astronautics.. 
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# 2. Chernobyl - $200 Billion 
On April 26, 1986, the world witnessed the costliest accident in history. The Chernobyl disaster has been called the biggest 
socio-economic catastrophe in peacetime history. 50% of the area of Ukraine is in some way contaminated. Over 200,000 people 
had to be evacuated and resettled while 1.7 million people were directly affected by the disaster. The death toll attributed to Chernobyl , 
including people who died from cancer years later, is estimated at 125,000. The total costs including cleanup, resettlement, and compensation 
to victims has been estimated to be roughly $200 Billion. The cost of a new steel shelter for the Chernobyl nuclear plant will cost $2 billion alone. 
The accident was officially attributed to power plant operators who violated plant procedures and were ignorant of the safety requirements needed.
 
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And at # 1 
2006-2008 Financial Meltdown$8 Trillion Global ………..!!!! 
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We didn't see it coming, he says. 
  
    
 

 

 

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