Saudi Prince Alwaleed bin Talal Targets 5% Stake in Lucid Motors

The billionaire investor disclosed on X that his office initiated the purchase on July 14, capitalizing on a valuation dip below $2 billion. This move followed unfounded rumors that Lucid faced insolvency or a forced privatization by the Kingdom’s Public Investment Fund (PIF). Lucid Motors, led by newly appointed CEO Silvio Napoli, dismissed the bankruptcy claims while continuing a aggressive restructuring plan that included an 18% workforce reduction in June.

Saudi Arabia remains the primary architect of Lucid’s financial stability. The PIF has held a majority stake of roughly 60% since the company’s 2021 public market debut. Beyond direct ownership, the Kingdom has consistently provided essential liquidity as Lucid struggles to capture a broader consumer base. Prince Alwaleed’s involvement mirrors his previous high-profile tech plays, including a significant tenure as a major Twitter shareholder. Known as the "Arabian Warren Buffet," the Prince continues to leverage his holding company to maintain influence across the U.S. technology sector, holding stakes in firms like Snap and Deezer.