Saudi Prince Alwaleed Buys 5% Stake in Lucid Motors, Stock Surges
Saudi Prince Alwaleed bin Talal disclosed a 5% stake in Lucid Motors, acquiring 19.5 million shares worth over $150 million when the company’s market cap was below $2 billion. The investment boosted Lucid’s stock by over 20%, easing bankruptcy fears after the company denied such rumors. Lucid, majority-owned by Saudi Arabia’s PIF, faces ongoing losses, layoffs, and the upcoming expiration of federal EV tax credits.
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Why Did Lucid Stock Rally Nearly 20% This Week?
Lucid Group (NASDAQ: LCID) stock surged nearly 20% this week, driven by news that Saudi billionaire Prince Alwaleed bin Talal Al Saud disclosed a passive 5% ownership stake in the electric vehicle maker via an SEC filing on July 28, 2026. The prince acquired 19.5 million Class A common shares during a market downturn when Lucid's market value dropped below $2 billion. Lucid's largest shareholder remains Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), which has supported the company's manufacturing facility in the Kingdom. The rally occurred ahead of Lucid's earnings report scheduled for August 4, 2026. The company is counting on its new Gravity SUV and self-driving technology to boost sales. The article also includes a disclaimer from The Motley Fool advising investors to focus on upcoming earnings rather than blindly following prominent investors.
Lucid Group Soars 21% on Saudi Prince's Stake Acquisition
Lucid Group (NASDAQ:LCID) shares surged 21.54% to $7.90 on Tuesday after Saudi Prince Alwaleed Bin Talal Bin Abdulaziz acquired a 5% stake, covering 19.5 million shares worth $154 million. The investment eased concerns about the electric vehicle maker's financial health, following weeks of speculation about potential bankruptcy or takeover. CEO Silvio Napoli publicly denied those rumors, stating the company is not considering bankruptcy or going private. Lucid is scheduled to report Q2 earnings on August 4, with Napoli previously assuring investors of sufficient liquidity into next year. However, institutional sentiment weakened in Q1, with hedge fund holdings dropping from 27 to 23 funds and total stake value falling from $66.86 million to $59.9 million.
Why Lucid Stock Soared 21.5% Today
Shares of Lucid Group surged 21.5% on July 28, 2026, after Saudi Prince Alwaleed bin Talal disclosed a 19.5 million share stake worth over $154 million. The billionaire investor, known as the 'Arabian Warren Buffett,' holds a net worth of approximately $23 billion. The news provided a boost to Lucid, whose stock had lost nearly 75% of its value over the past year. However, the electric vehicle maker faces significant headwinds, including the expiration of federal EV tax credits on September 30 and deep unprofitability, with an operating loss of $989 million in Q1. Despite these risks, investors viewed the prince's stake as a strong vote of confidence, driving the stock higher.
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Lucid Motors Shares Surge 20% After Saudi Prince Alwaleed Discloses $150 Million Stake
Shares of electric vehicle maker Lucid Motors skyrocketed 20.5% on Tuesday after Saudi Prince Alwaleed Bin Talal Alsaud disclosed a 5% stake in the company valued at over $150 million. The prince confirmed his ownership of 19.5 million Class A shares in a SEC filing, noting they were acquired when Lucid's market capitalization was below $2 billion. The surge comes after Lucid denied bankruptcy rumors earlier in July, with the company's chief communications officer stating the automaker has sufficient liquidity for the next year. Despite the rally, Lucid's stock remains down 71% over the past 12 months and nearly 28% year-to-date. The company, once seen as a Tesla rival, went public via a SPAC in 2021 and has posted over $1 billion in net losses in the first quarter of this year, alongside layoffs in February and June.
Saudi Prince Al Waleed Buys 5% Stake in Lucid Motors
Prince Al Waleed bin Talal Al Saud, a member of the Saudi royal family, has purchased a 5% stake in Lucid Motors, increasing the Kingdom's overall ownership of the electric vehicle company. A new SEC filing shows the billionaire prince bought over 19 million shares when Lucid's market cap was below $2 billion, following a report that the company was considering bankruptcy or going private—claims Lucid strenuously denied. The investment comes amid a major restructuring under newly appointed CEO Silvio Napoli, who cut 18% of the workforce in June. Lucid has been majority-owned by Saudi Arabia's Public Investment Fund (PIF) since 2018, which holds roughly 60% of the company. Prince Al Waleed, often called the 'Arabian Warren Buffett,' has a history of investing in U.S. tech, including Twitter and Snap.