Twitter’s landlord in SF accused the company of not paying rent since December. There was about $3.4 million in rent each month in December and January. The landlord of Twitter’s headquarters in San Francisco says things have changed since Elon Musk took the helm.
In a lawsuit filed this month in San Francisco state court, SRI Nine Market Square LLC, an entity related to the real estate company Shorenstein, accused Twitter of undermining its rent payments over the past two months.
amounting to approximately $3.4 million each December and Jan. The building is located at 1355 Market Street, where Twitter is on several floors, according to the suit. The real estate firm said it has so far used Twitter’s letter of credit to help cover some unpaid rent, but Twitter is still owed some $3.2 million this month, according to the suit that was first filed by San was reported.
The landlords are also alleging on Twitter that they have allegedly refused to increase the size of their letter of credit since Musk officially purchased the platform in October. The landlord’s suit alleged that the change in ownership triggered a need for Twitter to increase the size of its letter of credit, but noted that Twitter denied this was the case.
An email to Twitter’s press address and Musk’s Tesla email address received no response prior to publication. Shorenstein declined to comment. The lawsuit is the latest as Musk has imposed changes in style to run the platform, including laying off thousands of workers and not paying rent.
Earlier this month, the landlord of Twitter’s Hartford building at 650 California Street sued the social media company for more than $136,260 in unpaid rent.
Looks like even royalty isn’t safe from Twitter’s alleged rent fraud. In the UK, a real estate firm owned by King Charles III is also making a claim against Twitter for unpaid rent.
Twitter has also been sued by the fired employees, alleging that they were not being offered the expected severance packages based on assurances from Twitter’s former management prior to Musk’s acquisition.