Prince Al Waleed bin Talal Al Saud, a prominent member of the Saudi royal family and a seasoned investor in U.S. tech, has acquired a 5% stake in Lucid Motors. The purchase involved just over 19 million shares and was made when Lucid’s market capitalization dipped below $2 billion in mid-July 2026. This move enhances the Kingdom’s existing ownership in the electric vehicle manufacturer, which has been substantially supported by Saudi Arabia’s Public Investment Fund since its 2018 involvement.

The timing of this investment is notable, coming shortly after speculative reports surfaced alleging that Saudi Arabia might push to privatize Lucid Motors or even allow it to file for bankruptcy protection. Lucid firmly denied these claims, and its stock price recovered following the news. The company is currently undergoing significant changes under its new CEO, Silvio Napoli, who initiated considerable workforce reductions to streamline operations and boost profitability, reflecting Lucid’s ongoing struggle to scale in the competitive EV market.

Since merging with a special purpose acquisition company in 2021 and going public, Lucid has relied heavily on the financial backing of the Saudi sovereign wealth fund, which holds a majority 60% stake. The PIF’s investments have involved not only equity purchases but also substantial lending, positioning the fund as a critical pillar of Lucid’s financial strategy amid challenging growth and scaling efforts in the U.S. and globally.

Prince Al Waleed is well known for his influential tech investments, including his prior involvement as a major Twitter shareholder before its privatization by Elon Musk. His new stake in Lucid adds to his portfolio of high-profile tech assets and signals continued Saudi confidence in the potential of advanced electric vehicle technology. Lucid’s chief communications officer acknowledged the prince’s purchase as a positive independent show of support, though the company does not typically comment on individual investors.