Twitter is being sued for failing to pay the San Francisco office’s rent
After spending $44 billion to acquire Twitter, Elon Musk has been looking for ways to improve the company’s financial situation. According to the New York Times, Twitter has stopped paying the rent on the company’s San Francisco office after he fired most of the staff.
The microblogging service has reportedly been sued for allegedly failing to pay the rent for the Twitter headquarters, according to recent reports. According to court documents obtained by CBS News, Twitter is being sued by the landlord of the Hartford Building, Columbia Reit 650 California LLC, for $136,260 (approximately Rs 1.12 crore) in unpaid rent. There is an office for you on the 30th floor.
Musk reportedly attempted to renegotiate the lease terms of the building. Shorenstein, the real estate company that owns Twitter’s San Francisco building, has lodged multiple complaints with the company, according to the report.
Many companies have pulled their ads from the site since he took control, out of concern that they might appear in inappropriate places. This resulted in a “massive drop in revenue” for Twitter in the days after he paid $44 billion to acquire the company.
Some conference rooms at Twitter’s San Francisco office have been converted into bedrooms, and this fact has recently made headlines. Ex-Twitter employees who spoke to the BBC said that Musk has been living at the company’s San Francisco headquarters since he bought it.