"I suppose that's a loss but millions of people are starving to death in Africa so I'm having a hard time caring about some rich people losing some material possessions."
At the same time, hundreds were killed in road accidents. Why care about mere property? And that's only Americans. I don't think humans are well equipped to apply our feelings of caring to strangers we hear about on the news because there are far too many of them. We'd be reduced to blithering wrecks if we actually cared about all suffering.
Also the devastating impact on wildlife... biodiversity loss is also irreplaceable considering this is the only planet we know with life in the universe so far.
You can care about multiple things at once.