Saudi royalty just doubled down on Lucid Motors as Prince Al Waleed bin Talal Al Saud snaps up a 5% stake—over 19 million shares—amid swirling bankruptcy rumors Lucid swiftly denied. The move, timed when Lucid’s market cap dipped below $2 billion, underscores the Prince’s reputation as the “Arabian Warren Buffett” and bolsters Saudi Arabia’s existing ownership. Meanwhile, new CEO Silvio Napoli is aggressively restructuring, cutting 18% of staff in June to streamline operations—following earlier layoffs—while the Saudi Public Investment Fund continues its critical support as Lucid fights to scale production and compete in the EV race.
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