A dispute appeared to the public between the new King of Britain, Charles III, and the new owner of Twitter, Elon Musk, to the point that the first allowed the Crown Estate company, which manages real estate assets belonging to the British royal family, to file a lawsuit before the High Court in London, to force the second to pay rents. Arrears that the “Twitter” branch located in the center of the British capital did not pay.
The Crown Estate is known to manage hundreds of properties, with a value of more than $19.2 billion, of which 241 are located in the center of the capital, according to what Al-Arabiya.net learned from what was reported by the British newspaper, The Daily Telegraph, on the latest annual report issued by the company. A few days ago, and one of these properties was occupied by “Twitter” as a London branch, the “Crown Estate” recently removed all signs and slogans referring to it after it was late in paying arrears and it filed a lawsuit last week.
And the Crown Estate had repeatedly demanded “Twitter” to pay the rental arrears, through previous contacts, which led the two parties to hold talks that did not lead to any satisfactory result for the company that owns 10 million square meters of real estate in London, in addition to the sea coast around England, as well as in Wales and Ireland. North, according to her biography, which states that she generates profits for the British treasury for the purpose of public spending. It also allocates 15% of the surplus annual real estate profit to the royal family.--
Same problem in San Francisco
As for “Twitter”, which employs 2,300 out of 7,500 employees after layoffs, a previous report issued by it revealed that it is going through a financing crisis after 4 advertisers cut spending between 93% to 98.7% during the week preceding Musk’s acquisition of the platform, while advertising spending for the 30 largest companies decreased 42 %, reaching $53.8 million in November and December, according to a research company affiliated with Pathmatics, told Reuters.
In December, Twitter faced the same rental problem, when the New York Times reported that its administration had not paid rent for any of its offices in San Francisco for weeks. The owner also resorted to the courts to collect rent arrears of $136,260, which the court considered a violation for the lease of his office on the 30th floor of the Hartford Building in the city.