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Recently, Elon Musk's Twitter is sued again for failing to pay $136,250 in rent for its San Francisco office space. The landlord, Columbia Reit – 650 California LLC says that they sent notice to Twitter on December 16 that it would go into default on its lease for the Hartford Building's 30th floor in five days if the rent wasn't paid. In the complaint it filed on Thursday in San Francisco's state court, Columbia Reit mentioned that the renter had not complied.
The dispute is Twitter Inc. v. Columbia Reit – 650 California LLC, CGC-22-603719, Superior Court of the State of California (San Francisco). Holders of bonds linked to Twitter Inc.'s headquarters building in San Francisco are being negatively impacted by Elon Musk's efforts to reduce costs at the company. According to a Dec. 13 New York Times article, Twitter hasn't paid rent at its headquarters or any of its other international locations in weeks. Its mortgage for its main office at 1355 Market Street in San Francisco was included in a $400 million bond in 2015.
In recent days Elon Musk's New Twitter, which is running under him come across many changes since Tesla's CEO acquired the giant social media platform. A wave of hate comments has come after the new chief of Twitter, Elon Musk fired Twitter CEO Parag Agrawal, Chief Financial Officer Ned Segal, and legal affairs and policy chief Vijaya Gadde just after closing the deal. Musk has managed to be under the spotlight over his tweets, new announcements, and several major tweaks to the platform's policy. His $8 blue tick plan made users crazy.
Recently Elon Musk has promised to step down as head of Twitter and now Musk is in Search of a CEO who runs the social media platform smoothly. Elon musk said, "The question is not finding a CEO, but finding a CEO who can keep Twitter alive." The Twitter CEO recently conducted a poll on the platform, asking users whether he should step down as the CEO.
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