Musk's Twitter Sued For Not Paying Rent

Elon Musk should hope his reputation doesn't take too much of a tumble, as his Twitter is being sued for not paying the rent it owes on its San Francisco headquarters.

The Columbia Property Trust has officially announced that it is suing Twitter "for neglecting to pay rent for its downtown San Francisco headquarters."

Musk suggests that he wants a new lease in place first as Twitter desperately tries to slash operating costs across the board, according to the New York Times:

The data center shutdown was one of many drastic steps Mr. Musk has undertaken to stabilize Twitter’s finances. Over the past few weeks, Twitter had stopped paying millions of dollars in rent and services, and Mr. Musk had told his subordinates to renegotiate those agreements or simply end them. The company has stopped paying rent at its Seattle office, leading it to face eviction, two people familiar with the matter said. Janitorial and security services have been cut, and in some cases employees have resorted to bringing their own toilet paper to the office.

Since early November, Mr. Musk has sought to save about $500 million in nonlabor costs, according to an internal document seen by The New York Times. He has also laid off or fired nearly 75 percent of the company’s work force since completing the purchase.

While I do support Musk's effort to lower costs all around, I also support the law that says landlords need to be paid the agreed upon amount. Hopefully Elon figures this out soon.