Prince Al Waleed bin Talal Al Saud, a member of the Saudi royal family, has purchased a 5% stake in Lucid Motors, increasing the Kingdom’s overall ownership of the electric vehicle company.
A new filing with the U.S. Securities and Exchange Commission published Tuesday shows that the billionaire prince recently purchased a little more than 19 million shares. In a post on X, he wrote that his investment office made the purchase when Lucid’s market cap was below $2 billion.
Originally reported by TechCrunch. Read the full story at the original source.
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