Elon Musk, the enigmatic entrepreneur and CEO of companies like Tesla and SpaceX, has once again made headlines, this time in relation to his involvement with Twitter. With Elon Musk's name closely tied to innovation and controversy, it comes as no surprise that his influence has extended to the realm of social media. As an active user of Twitter, Elon Musk's tweets have gained significant attention and have even caused stock prices to fluctuate. Elon Musk's presence on the platform has sparked debates, captured public interest, and invited both praise and criticism. Whether Elon Musk is sharing his ambitious visions or engaging in playful banter with his followers, Elon Musk's impact on Twitter cannot be understated. With each tweet, he continues to captivate the digital world and make his mark on the social media landscape.

However, the increase in Goldman Sachs' troubled commercial property loans can be partially attributed to Twitter's non-payment of rent since November of the previous year. Goldman Sachs is among the group of banks that provided a $1.7 billion loan to Columbia Property Trust, a real estate investment firm that owns several office spaces occupied by Twitter.

The decision to forgo rent payments seems to be one of the drastic cost-cutting measures implemented by Musk since his acquisition of Twitter last year. This move aligns with Twitter's efforts to stabilize its finances and repay the $12.5 billion debt incurred by Musk when he purchased the social media platform.

In private discussions, Musk has adamantly stated that he would only pay Twitter's rent "over his dead body." However, the company now faces a lawsuit from Columbia Property for its failure to fulfill lease payments. As of December 2022, Twitter owed $136,260 for its office spaces, according to Columbia Property's lawsuit.

A representative from Columbia Property declined to provide a comment on the lawsuit to Insider. Meanwhile, Twitter, known for its practice of responding to press emails with a poop emoji, did not promptly respond to a request for comment.

Elon Musk's Rent Strike Rattles Goldman Sachs' Commercial Mortgage Portfolio