Twitter sued for $136,260 in unpaid rent for its San Francisco offices
This time it concerns the Twitter offices on the 30th floor in downtown San Francisco. This building’s landlord claims in a lawsuit filed last week that Twitter owes $136,260 (£113,601) in overdue rent. On 16 December, the landlord at 650 California Street, which is not Twitter’s primary office in San Francisco, sent the social media firm notice that it would be in default if it did not make payment within five days. The complaint claims that five days passed without payment.
The landlord, Columbia REIT 650 California LLC, is also seeking damages which include the back rent, in addition to attorney fees and other costs. In 2017, Twitter agreed to a seven-year lease for the facilities. In the first full year, the monthly rent was $107,526.50 (£89,646) and steadily grew to $128,397 (£107,045) in the seventh year.
No response from Twitter
Guardian said that a request for comment from the microblogging site Twitter has gone unanswered. There is no longer a media relations division within the company, the media portal added. Twitter has apparently also fallen behind on rent at the company’s headquarters, which is situated at 1355 Market Street, another San Francisco address, according to the New York Times.
Musk’s Twitter is also auctioning off upscale office furniture, kitchenware, and other artefacts in addition to not paying rent and terminating employees. According to estimates, around three-quarters of Twitter’s workforce quit, were fired, or were laid off.
In October 2022, Musk paid $44 billion (£37 billion) for Twitter, and the firm will be responsible for paying the deal’s interest obligations of around $1 billion a year. Musk’s Tesla shares, which have lost more than half of their value since he acquired Twitter, are responsible for the majority of his fortune. Since April, when he began accumulating shares of Twitter, he has sold approximately $23 billion (£19 billion) of the electric car company’s stock to pay for the acquisition. According to Forbes, he has even lost his title as the richest person in the world.
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