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Barron Senior Writer Allen Root talks about what lies ahead for Tesla in 2023 after facing a stock market crash in “The Claman Countdown.”
A Twitter landlord is reportedly suing the social media giant for not paying rent at its downtown San Francisco office.
The company owes about $136,260 in unpaid rent, according to the landlord, Columbia Property Trust, who filed a lawsuit last Thursday.
A low angle view of the signage with the logo in front of the social network Twitter’s headquarters in the South of Market (SoMa) neighborhood of San Francisco, California on October 13, 2017. SoMa is known for having the highest concentration of technology. (Smith Collection/Gado/Getty Images/Getty Images)
Twitter’s nonpayment of rent was first reported last month, about a month and a half after Elon Musk acquired the company for $44 billion after a chaotic legal battle.
Two people familiar with the matter told the New York Times that Mr. Musk is trying to renegotiate the terms of the lease amid mass layoffs and job cuts.
Elon Musk becomes the first person to lose $200 billion: report
The cutbacks continued on Friday, when Twitter closed its Seattle offices and cut cleaning and security services, according to The Times.
Meanwhile, the company’s New York and San Francisco offices laid off cleaning and security staff. According to The Times, Musk has reduced its office space from four floors to two.
FOX Business reached out to Twitter for comment. A spokeswoman for Columbia Property Trust declined to comment.
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The case is Columbia Reit – 650 California LLC v. Twitter Inc., CGC-22-603719, Superior Court of San Francisco, California.
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