Los Angeles, commonly known by its initials L.A., is Southern California's commercial, financial, and cultural centre. Los Angeles is also the largest city in the state of California, the second most populous city in the United States after New York, and one of the most populous megacities in the world. With a population of approximately 3.9 million within city limits in 2020, Los Angeles is known for its Mediterranean climate and ethnic and cultural diversity and is home to the Hollywood film industry. And its vast metropolitan area. The city is located in a Southern California basin that borders the Pacific Ocean to the west and extends through the Santa Monica Mountains and north into the San Fernando Valley, with the city bordering San Gabriel to the east. It covers approximately 469 square miles (1,210 km2) and is the county seat of Los Angeles County, the most populous county in the United States, with approximately 9.86 million residents as of 2022. Home to the native Chumash and Tongva people, the area that became Los Angeles was claimed to Spain by Juan Rodríguez Cabrillo in 1542. The city was founded on September 4, 1781, under the Governor. Spain Felipe de Neve, on the village from Yanga. It became part of Mexico in 1821 after the Mexican War of Independence. In 1848, when the Mexican-American War ended, Los Angeles and the rest of California were purchased under the Treaty of Guadalupe Hidalgo and thus became part of the United States. Los Angeles was founded on April 4, 1850, five months before California became a state. The discovery of oil in the 1890s led to the city's rapid development. The city grew further with the completion of the Los Angeles Aqueduct in 1913, supplying water from eastern California. Los Angeles has a diverse economy and is home to businesses operating in various professional and cultural areas. It also has the busiest container port in the Americas. In 2018, the Los Angeles metropolitan area had a gross urban product of more than $1 trillion, making it the city with the third largest GDP in the world, after New York and Tokyo. Los Angeles hosted the 1932 and 1984 Summer Olympics and will host the 2028 Summer Olympics. Recently, a statewide drought in California has strained the water security of the city and Los Angeles county.