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.

 

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.