Twitter HQ's Landlord Sues Elon Musk For Not Paying Millions In Rent: Here's How Much He Owes

The landlord of Twitter's headquarters in San Francisco has sued Twitter CEO Elon Musk for not paying rent over the last two months. 

According to a lawsuit filed in San Francisco Superior Court, the building's owner, SRI Nine Market Square LLC, alleges that Twitter failed to pay about $3.4 million in rent in December and approximately the same amount in January, reports the Wall Street Journal.  

However, the landlord was able to secure some of the funds through Twitter's letter of credit. As per the lawsuit, Twitter still owes $3.16 million in unpaid bills. 

According to the complaint, Twitter rents more than 460,000 square feet of space on eight floors of the San Francisco building. 

With the lawsuit, SRI Nine seeks to recover the unpaid rent and a court declaration that Twitter is in breach of the lease for failing to increase the line of credit.

In another lawsuit, Twitter was sued for not paying its rent at the company's London office. 

According to court filings, the Crown Estate has filed a suit against Twitter over its London premises in the West End, reports Bloomberg. 

Also Read: Musk Shares Rare Photos Of His And Grimes' Son X Visiting Twitter HQ

Earlier this month, the social media firm was sued for failing to pay $136,250 rent for additional office space in San Francisco. 

The property is owned by Columbia Reit - 650 California LLC. Twitter is on lease and has offices on the 30th floor of the Hartford Building.

Musk is aiming to reduce the company's costs, not only because Twitter is facing a high cash burn rate, but also because Musk needs to repay the debt raised for his takeover bid.

Musk purchased Twitter for $44 billion. The social media company posted a net loss of $270 million in the second quarter that ended June 30, 2022, compared to a profit of $66 million in the same period the previous year. 

Twitter laid off thousands of workers in November 2022 in departments across the company, a move justified by Musk. 

Last week, CNBC reported that Twitter had shed about 80% of its employees since Musk took over. The headcount reportedly hovers around 1,300 employees, including fewer than 550 full-time engineers.

However, Musk quashed the media report, saying Twitter has about 2,300 active employees. 

Read Next: What Elon Musk's 2-Year-Old Son Was Doing At Twitter Headquarters

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