Lucid Motors Shares Skyrocket 20% After Billionaire Saudi Prince Discloses $150 Million Stake

Jul 29, 2026 02:09 AM - 2 hours ago 3

Topline

Saudi Prince Alwaleed Bin Talal Alsaud connected Tuesday disclosed a 5% liking successful Lucid Motors weighted astatine much than $150 million, sending shares successful the electrical conveyance shaper skyrocketing aft it dismissed bankruptcy rumors earlier this month.

The electrical conveyance shaper precocious denied reports of bankruptcy.

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Key Facts

Prince Alwaleed disclosed ownership of 19.5 cardinal shares of Lucid’s Class A banal to the Securities and Exchange Commission, representing astir 5% equity successful the company, valuing his liking astatine astir $153 cardinal arsenic of Tuesday afternoon.

Shares of Lucid surged 20.5% connected Tuesday to astir $7.80 aft earlier peaking arsenic precocious arsenic $8.48, though the banal is still down 71% complete the past 12 months and astir 28% this twelvemonth truthful far.

Prince Alwaleed confirmed his liking successful a station connected X, penning his shares were acquired erstwhile Lucid’s marketplace capitalization was beneath $2 billion, which would person travel arsenic early arsenic June 25 (shares deed an all-time debased connected July 14).

forbes valuation

Prince Alwaleed, who holds stakes successful respective companies, for illustration the Four Seasons edifice concatenation done the Saudi Arabia-listed Kingdom Holding, has a nett worthy estimated astatine $22.9 billion. He has invested successful some X and Elon Musk’s SpaceXAI, formerly xAI, successful summation to investments successful Snap and the Arabic-language movie and euphony patient Rotana. Forbes removed Prince Alwaleed from its billionaire ranks successful 2018 pursuing his monthslong detainment by the Saudi authorities successful 2017, earlier he and different Saudis were included again successful 2025.

big number

$90.9 billion. That’s Lucid’s all-time precocious marketplace capitalization reached successful November 2021, erstwhile shares traded arsenic precocious arsenic $648.60. Lucid’s banal mislaid almost each of its worth by July 14, erstwhile shares traded arsenic debased arsenic $2.37, marking a 99.6% collapse.

key background

Lucid has recovered somewhat since shares deed a grounds debased earlier this month, erstwhile the electric-vehicle publication EV reported the automaker had considered filing for bankruptcy. In a connection to Forbes, Lucid’s main communications serviceman Nick Twork said the study was “completely false” and Lucid had “sufficient liquidity” for the adjacent twelvemonth and had not explored bankruptcy. Lucid, erstwhile viewed arsenic a imaginable rival to Tesla, was founded by a erstwhile Tesla technologist and went nationalist via a SPAC woody successful 2021, valuing the institution astatine $24 billion. It posted a nett nonaccomplishment of complete $1 cardinal done its first 4th this twelvemonth and announced layoffs successful February and June.