Twitter Isn't Paying Its Landlords Or Vendors, Prepping For Legal Battle

Twitter's headquarters in San Francisco
Twitter's Headquarters In San Francisco

Social media platform Twitter has reportedly quit paying rent on its headquarters building in San Francisco and an unspecified number of other leases.

The nonpayment is part of a wider move by Twitter, which was acquired by Elon Musk in October for $44B, to withhold pay from vendors in anticipation of potential litigation, The New York Times reports, citing anonymous sources.

Representatives of Twitter landlords, including Shorenstein in San Francisco, Jamestown in Atlanta and Columbia Property Trust in New York, have not responded to Bisnow queries for further information.

Since the Musk takeover, the billionaire has conducted an extensive examination of costs at the company, reportedly telling staff to renegotiate with, or in some cases not pay, Twitter’s outside vendors.

Altogether, Twitter's global office space footprint was roughly 1.7M SF at the time Musk bought the company. The company occupied an estimated 1M SF in San Francisco's Mid-Market district, with as many as 7,500 employees at that time.

Soon after the acquisition, Musk fired about 3,700 employees globally and insisted those who remain return to the office full time.

Twitter HQ in San Francisco was in the news only last week for reports that  conference rooms are doubling as sleeping quarters, which would be in violation of city building codes.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Why Hines Is Restarting Its Development Engine

Power Availability Becomes New Requirement For Shifting Bay Area Industrial Base

Cross Ocean Partners, Fuller Realty Acquire 829K SF Houston Office Campus

How Integrated Infrastructure Can Help AI Data Centers Deploy Faster, Build Smarter

Nvidia Buys Stake In Data Center Power Company

Invesco Cuts Fees, Adds Incentives To Quell Fund Redemption Requests

Investors Anchor Big Capital Into Marinas, Betting On Shallow Supply

NYC Office Investor Warns It Could Go Under As Defaults Pile Up

Deutsche Bank Takes 5 Floors At Oaktree And Quadrant's Canary Wharf Scheme

Nike Closes 15 Stores Amid Tumultuous Year

Large Commercial Real Estate Sales Up 30% Despite Economic Headwinds

Evergrande Founder Sentenced To Life, 56 Others Sent To Prison In China