Saudi billionaire Prince Alwaleed bin Talal has disclosed a 5% stake in Lucid Group, and the market read it as a fresh vote of Saudi confidence in the cash-strapped EV maker.
Lucid (LCID) shares jumped as much as 25% on Tuesday after the filing surfaced, even though the disclosure itself is passive and mostly a technical formality.
What the filing actually says
In a Schedule 13G filed with the SEC on July 28, Prince Alwaleed reported owning 19,513,000 Class A shares of Lucid. That’s exactly 5.00% of the 390,256,808 shares outstanding as of April 29, 2026. The event date triggering the filing was July 23.
A 13G is the passive version of an ownership disclosure. Alwaleed certified that the shares were “not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.” So no board fight, no activist campaign. He holds sole voting and dispositive power over the full stake.
