That’s a lot of money, but it is only the beginning. Much more of these extreme weather events will follow, even if humanity finally wakes up to the threat and starts reducing CO2 emissions.
That would be between about $3.95 and $15.79 trillion.
$ 50 billion would be around 1.27% of the former figure, and about 0.32% of the latter.
So, with all due respect to those who have suffered damages from this particular event, this is still close to nothing compared to what is still to come. That “inconvenient truth” title should have been “horrible truth”.
Storms like this, and all the other catastrophic consequences expected from global meltdown, are not mere inconveniences.