The owner of the San Francisco building where Twitter has its offices has escalated his lawsuit against Twitter and CEO Elon Musk, claiming that the firm has failed to pay nearly $3 million in rent. Since Musk bought Twitter at the end of last year, he has been sued by many suppliers, including the landlord. According to The Wall Street Journal, SRI Nine Market Square LLC, the building’s owner, claims that Musk failed to pay $3.4 million in rent for both December and January. However, the landlord was able to recover part of the monies through Twitter’s letter of credit.
Apparently, the landlord has filed a case with the San Francisco Superior Court claiming that he is still owed $3.16 million. Musk’s Twitter owes rent for eight floors at 1335 Market St. Yet, by early January, Twitter has allegedly reduced the number of floors occupied by its offices to two.
Recently, we covered several recent stories discussing Elon Musk, don’t forget to check them out-
- Elon Musk Claims Twitter Would Create Premium Blue Tier Without Ads.
- Elon Musk Reports That Twitter Has 2300 Active Working Staff.
- Elon Musk’s Name Appeared in 69-Year-Old Space Travel Book.
Since taking over Twitter, Musk has been looking for methods to reduce expenses and boost income, so this lawsuit comes as a surprise. He has already let go of most of the company’s workers and has revealed strategies to improve platform monetization. “Ads are too frequent on Twitter and too big,” Musk tweeted this weekend. “Taking steps to address both in coming weeks.”
Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks.
— Elon Musk (@elonmusk) January 21, 2023
He went on to add that Twitter will soon offer a “higher priced subscription that allows zero ads.” In addition to focusing on these new cash streams, Musk’s Twitter is planning to shut down its operations in both Seattle and New York.
Please forward this post and encourage your friends and family to visit Smartnewszone.com for the newest news.
