Saudi investor Prince Alwaleed bin Talal has disclosed a 5% ownership stake in Lucid Group, prompting a sharp rise in the electric vehicle manufacturer’s share price following the filing with the U.S. Securities and Exchange Commission (SEC).
Lucid shares rose by as much as 25% after the disclosure, although the filing identifies the investment as a passive holding and does not indicate any intention to influence the company’s management or strategy.
SEC Filing Reveals 5% Ownership Stake
According to a Schedule 13G filed with the SEC on July 28, Prince Alwaleed reported ownership of 19,513,000 Class A shares, representing 5.00% of Lucid’s 390,256,808 outstanding shares as of April 29, 2026.
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The filing states that the reporting event occurred on July 23.
Under SEC rules, investors acquiring more than 5% of a publicly traded company’s shares are generally required to disclose their holdings. A Schedule 13G is used when the investment is considered passive rather than activist in nature.
In the filing, Prince 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.”
The filing also indicates that he retains sole voting and dispositive authority over the reported shares.
Separate Investment From Saudi Sovereign Wealth Fund
The disclosure relates to Prince Alwaleed’s personal investment and is separate from Saudi Arabia’s Public Investment Fund (PIF), which remains Lucid’s largest shareholder.
The PIF first invested more than $1 billion in Lucid in 2018 to support development of the company’s manufacturing facility in Arizona. Since then, the sovereign wealth fund has provided additional financing through equity investments, stock purchases and credit facilities totaling approximately $9.5 billion, according to previously announced transactions.
Earlier this year, a PIF affiliate also invested $550 million through convertible preferred stock, while Lucid recently accessed approximately $800 million through a Saudi-backed financing facility.
The company has also attracted investment from Uber, which acquired an 11.5% stake earlier this year as part of a $500 million agreement related to the deployment of Gravity SUV vehicles for future robotaxi services.
Market Reacts to Investor Disclosure
The filing does not announce new funding for Lucid or any changes to its governance. However, investors responded positively to the disclosure amid continued market attention on the company’s financial position and shareholder base.
Lucid has experienced a challenging period over the past year, with its shares remaining well below previous levels following a 1-for-10 reverse stock split completed last August. The company also announced workforce reductions in June and has been working toward its production targets under Chief Executive Officer Silvio Napoli.
While the Schedule 13G filing confirms Prince Alwaleed as a significant shareholder, it does not indicate any plans to seek board representation or influence Lucid’s corporate direction.
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