Twitter, owned by Elon Musk, is being sued by the British company The Crown Estate, which looks after King Charles III’s properties, for allegedly failing to pay the rent for its London headquarters. According to the BBC, the social network’s offices on Air Street in the British capital, close to Piccadilly Circus, are where the alleged debt originated. The business first approached Twitter about the allegation and has taken the matter before the High Court in London.
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The Impressive Assets of the British Crown
One of the most extraordinary portfolios of land and businesses in the UK is owned by the monarchical holding corporation, whose assets are worth approximately 15.6 billion British pounds (17.68 billion euros), the proceeds of which are managed by the UK Treasury. The UK, the legal owner of the assets, receives 25% of annual revenues to cover its administrative costs; in 2022, this sum was 86.3 million British pounds (97.8 million euros).
Charles III also has jurisdiction over the Duchy of Lancaster, which oversees more than 18,000 hectares of land in England and Wales and businesses and office space in London, making 24 million pounds in profits in 2017. (27 million euros). Queen Elizabeth II, who passed away in September at the age of 96, held the estates of Sandringham in England and Balmoral in Scotland in addition to other personal wealth and possessions.