King Charles III, when he turned monarch, inherited an enormous variety of royal-owned U.Ok. properties which can be managed by the Crown Property, a belief. They embody residences, luxurious workplace area in central London, offshore wind farms and the handle publicly listed as Twitter’s headquarters in the UK.
The gathering of properties, price $19.2 billion, belongs to the monarch all through his reign however will not be privately owned by him. Final yr, it generated $385 million in income.
The Crown Property’s rental arrears declare towards Twitter was listed at London’s Excessive Court docket final week, Reuters reported.
Public filings don’t present monetary information for Twitter for the earlier yr. They have been required to be submitted for the general public report in the UK earlier than Dec. 31. Late submissions may lead to computerized penalties.
Twitter, which has laid off the vast majority of its communications workers, didn’t instantly reply to a request for remark.
The London declare mirrors experiences that U.S. and different worldwide Twitter places of work had stopped paying lease. In California, the San Francisco Chronicle reported Monday that the owner of the agency’s San Francisco headquarters is suing it, alleging failure to pay $6.8 million in lease in December and January.
In Singapore, Bloomberg Information reported that staff had been ordered to vacate Twitter’s Asia-Pacific headquarters this month and do business from home.
Twitter has been rocked by turmoil since Elon Musk bought the corporate in a $44 billion takeover in October and applied a whirlwind of adjustments. “Let the great instances roll,” he tweeted when the blockbuster deal was introduced.
After his buy, Musk lower half of Twitter’s 7,500-member workers and welcomed again 1000’s of banned accounts, together with some beforehand suspended for selling hate or violence. Many advertisers have been pushed away, based on a Washington Put up evaluation of selling knowledge, additional widening the corporate’s monetary gap.
On a Twitter audio chat not too long ago, Musk cited the corporate’s precarious monetary place as a driver of his aggressive job cuts and drastic actions, including that “we now have an emergency fireplace drill on our arms.”
Earlier this month, Twitter auctioned 631 objects of “surplus company workplace property” — together with a leather-based sling lounge chair, espresso machine, and neon blue signal of its tweeting chicken brand — from its San Francisco places of work because it grapples with its funds.
Since taking up Twitter, the tech billionaire’s private wealth has additionally plummeted. This month, he was acknowledged by Guinness World Data for sustaining the “worst lack of fortune in historical past” — shedding about $200 billion in web price over a yr.
Hamza Shaban, Faiz Siddiqui and Adela Suliman contributed to this report.
