Twitter, the company of the world's second richest man, Elon Musk, is running arrears on the rent of its San Francisco head office. In ...
Twitter, the company of the world's second richest man, Elon Musk, is running arrears on the rent of its San Francisco head office. In addition, the company has not paid the rent for other offices around the world. Since Musk's takeover of Twitter, the property's owners have not received rent.
The building owners have asked Twitter to vacate the property, but the company has not responded. In some cases, landlords simply request that Twitter vacate the property in accordance with the lease agreement. They are not even demanding the outstanding rent from Twitter.
According to another property owner, Twitter has fired 7,000 employees. There is no longer a need for a large office. Kitchen space has been eliminated in many offices. The company is holding an auction for kitchen items. Following the reduction in staff, the company believes that a kitchen is no longer required.
Musk is following in Trump's footsteps by refusing to pay property rent
Experts believe Musk's nonpayment of rent is modelled after that of former US President Donald Trump. Trump rented properties across the United States but did not pay the majority of the rent. An employee who was fired from the company, on the other hand, claims that he was not even paid three months' salary as required by law. Some employees are also considering filing a legal action against Twitter.
The employees with whom the property owners had contact were fired. Bill Reynolds, who has rented out his Colorado property to Twitter, told Dainik Bhaskar that another major issue has arisen. All of the property owners' Twitter contacts have been removed from the company. In this situation, he and many others are unable to communicate with Twitter. Twitter has not responded to emails regarding the property's departure.
Musk's financial crisis has worsened since he purchased Twitter. Many people have already been banned from Twitter. At the same time, Musk has been selling shares of his electric car company Tesla nonstop for the last three days.
Musk has sold approximately 22 million (2.2 crore) shares of Tesla in just three days, for a total value of approximately $3.6 billion, or 29.81 thousand crore rupees.
Selling Tesla shares to save business
Following the $ 44 billion acquisition of Twitter, Musk stated, 'I am selling Tesla shares to save my business.' Tesla stock has dropped more than 60% this year. These were close to $400 at the start of the year and have now dropped to around $150.
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