Today, Elon Musk once again demonstrates his great business management skills. A U.S. judge has signed the eviction of one of Twitter’s offices located in Boulder, Colorado. This eviction is due to the non-payment of up to three months’ rent by Musk’s company to the landlord of those offices.
According to the Denver Business Journal, Twitter paid for the rent of the Boulder offices, owned by a Chicago-based landlord, using a letter of credit of $968,000. There were no issues with the rent for the offices from February 2020, when the letter of credit was sent, until March of this year when the funds were depleted. Since then, the company has not paid a single month’s rent.
The property owner filed a lawsuit against Twitter in May, and on the 31st of that month, a judge issued an eviction order, which should take place within 49 days with the cooperation of the district sheriff. At one point, the Boulder offices had up to 300 Twitter employees, but the massive layoffs that occurred after Musk’s arrival likely significantly reduced that number.
If this situation sounds familiar, it’s because it’s not entirely new. Earlier this year, we reported on another rent non-payment complaint against Columbia Property Trust, the owner of a building in San Francisco where other Twitter offices are located. Despite the former CEO of the company swimming in money, in January, he owed a total of $136,250 to the landlord.
And that’s not all. According to an article published by The New York Times in December, Musk had allegedly stopped paying rent for all Twitter offices worldwide as part of his cost-cutting campaign. Yes, supposedly, Twitter would be an “occupying” company.
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