The estate, which manages property belonging to King Charles III, filed a claim against Twitter in the high court in the capital last week. The allege

Twitter sued by crown estate over alleged unpaid rent on London HQ

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2023-01-24 13:00:03

The estate, which manages property belonging to King Charles III, filed a claim against Twitter in the high court in the capital last week. The alleged rental arrears relates to office space near Piccadilly Circus in central London, according to the BBC.

The crown estate, which owns a property portfolio worth £15.6bn, including 241 locations in central London, said the court action related to “rental arrears” on the social media platform’s office space in the city.

It comes after Twitter was taken over by Elon Musk, the co-owner of Tesla and SpaceX, in October last year. Musk paid $44bn (£36bn) for the platform and quickly initiated sweeping job cuts to the firm’s 7,000-strong workforce – cutting it by 50%.

Musk’s takeover has not been without issues, including a chaotic relaunch of the blue tick scheme for verified users led to a number of impersonator accounts and advertisers withdrawing from the platform over concerns about a rise in hate speech.

The firm has reportedly been hit by a 40% drop in revenue after more than 500 clients paused their spending, with high-profile brands such as Audi and Pfizer halting advertising.