
The troubles of Twitter owner Elon Musk are endless, as he is accused of not paying the planned rent at the offices of the popular platform in San Francisco.
As the Tesla leader’s personal fortune dwindles, Twitter owes $136,260 in rent for its offices on the 30th floor of a downtown San Francisco building, according to a lawsuit filed by the building’s owner last week.
The owner of 650 California Street, which is not Twitter’s main headquarters in San Francisco, sent a notice to the social media company Dec. 16 saying it would default if it didn’t pay within five days. According to the lawsuit, five days went by without payment.
The landlord, Columbia REIT 650 California LLC, is seeking damages in the amount of past due rent, as well as attorneys’ fees and other expenses. Twitter signed a seven-year office lease in 2017. The monthly rent was $107,526.50 in the first full year and gradually increased to $128,397 in the seventh year. Mr. Musk bought Twitter for $44 billion in October 2022.
Much of his fortune stems from his ownership of Tesla shares, which have lost more than half their value since Musk took over Twitter. He has sold nearly $23 billion worth of shares in the electric car company to finance the purchase since April, when he began solidifying his position on Twitter. According to Forbes, he even lost the first place of the richest man in the world.
Musk is auctioning off office furniture, kitchen equipment and other leftovers from Twitter’s past.
The company is headquartered at a different address in San Francisco, 1355 Market Street, where the New York Times reports Twitter also underperforms in rent, according to The New York Times. In addition to not paying rent and laying off workers, Mr. Musk is also auctioning off high-quality office furniture, kitchen equipment and other relics from when Twitter had more than 7,500 full-time employees worldwide, as well as free lunches and other merchandise. office privileges were common. About three-quarters of Twitter employees are estimated to have left the company as a result of layoffs or layoffs.
Items Twitter is up for auction include a pizza oven, a 40-liter mixer, and high-end designer furniture such as Herman Miller Eames chairs and Knoll Diamond chairs, which retail for thousands of dollars.
Even the Twitter bird statue (bidding starts at $25) and a glowing screen with the Twitter logo (bidding starts at $50) are on display in this auction. your office equipment.
Source: Kathimerini

Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.