Twitter sued by Elon Musk for missing rent payments at UK HQ in San Francisco

Twitter is going through two separate lawsuits for failing to pay hire at its London workplace and San Francisco headquarters, whereas the social media large’s monetary struggles proceed.

The Crown Property, which manages properties in King Charles’ portfolio, is reportedly suing Twitter over unpaid hire on the firm’s UK headquarters in London at 20 Air Road.

A spokesman for the Crown Property stated he beforehand took to Twitter earlier than submitting the hire arrears lawsuit. in accordance with CNN.

Twitter was additionally sued by the owner of its San Francisco places of work on Friday for failing to pay hire in December and January. in accordance with a replica of the lawsuit shared by the San Francisco Chronicle.

The corporate did not pay its $3.36 million hire final month, prompting the owner, SRI 9 Market Sq. LLC, to attract on Twitter’s line of credit score. Twitter once more did not pay the following month’s hire of $3.42 million, however the landlord was solely in a position to attract about $265,000 on the road of credit score, which now has a stability of $1.

The owner argues that Twitter breached the contract by failing to make these hire funds and by not rising its line of credit score by $10 million, which was required within the occasion of a change of possession underneath the lease.

This comes as billionaire Elon Musk took excessive measures to chop the corporate’s spending. Twitter has auctioned costly furnishings, espresso machines and different gadgets from the San Francisco workplace to earn cash.

Earlier this month, workers on the firm’s Asia Pacific headquarters in Singapore had been knowledgeable they’d simply hours to take away their belongings from the workplace and change to teleworking. in accordance with Bloomberg.

Musk purchased Twitter for $44 billion final 12 months after a number of makes an attempt to again out of the deal. Musk’s first curiosity fee on the debt he took on to fund the deal might be due later this month, in accordance with the Monetary Instances.