Twitter had to pay heavy rent for office in America, case filed against the company

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Microblogging site Twitter’s problems have increased due to non-payment of office rent in San Francisco, America. A case has been filed against the company in the court. Twitter owes $1,36,250 in rent. Columbia Reit, the owner of this office, has said that it had given notice to Twitter on December 16 that if the rent was not paid, it would default on its lease.

According to Bloomberg report, in the complaint filed in the court, Columbia Reit has claimed that Twitter has not followed the terms of the agreement. Twitter was also sued in December for refusing to pay for two charter flights. Another report states that the company has not paid the rent for its headquarters and some other international offices for a few weeks.

Major changes are being made in the company since billionaire Elon Musk took over Twitter in October last year. After gaining control of Twitter, Musk laid off almost half the staff. After this, some journalists had to face strong opposition after their Twitter accounts were banned. Regarding this, the European Union (EU) had warned of imposing restrictions on Twitter. However, Musk later withdrew this decision. These journalists were banned for giving reports related to Musk. Musk is also the chief executive of electric car maker Tesla. Tesla’s value has declined by more than half since Musk made a bid for microblogging site Twitter in April. Musk has sold approximately $23 billion worth of company shares since April. This may make it easier for them to raise funds for the $44 billion deal to buy Twitter.

Due to the fall in Tesla’s share price, Musk has also lost the title of the world’s richest person. According to Forbes, Musk’s net worth has declined to approximately $174 billion. French businessman Bernard Arnault has overtaken Musk to become the world’s richest person. Musk is facing difficulties since purchasing Twitter.

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