forbes valuation
Prince Alwaleed, who holds stakes in several companies, like the Four Seasons hotel chain through the Saudi Arabia-listed Kingdom Holding, has a net worth estimated at $22.9 billion. He has invested in both X and Elon Musk’s SpaceXAI, formerly xAI, in addition to investments in Snap and the Arabic-language movie and music firm Rotana. Forbes removed Prince Alwaleed from its billionaire ranks in 2018 following his monthslong detainment by the Saudi government in 2017, before he and other Saudis were included again in 2025.
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big number
$90.9 billion. That’s Lucid’s all-time high market capitalization reached in November 2021, when shares traded as high as $648.60. Lucid’s stock lost almost all of its value by July 14, when shares traded as low as $2.37, marking a 99.6% collapse.
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key background
Lucid has recovered slightly since shares hit a record low earlier this month, when the electric-vehicle publication EV reported the automaker had considered filing for bankruptcy. In a statement to Forbes, Lucid’s chief communications officer Nick Twork said the report was “completely false” and Lucid had “sufficient liquidity” for the next year and had not explored bankruptcy. Lucid, once viewed as a potential rival to Tesla, was founded by a former Tesla engineer and went public via a SPAC deal in 2021, valuing the company at $24 billion. It posted a net loss of over $1 billion through its first quarter this year and announced layoffs in February and June.
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further reading
ForbesLucid Motors Denies Bankruptcy Rumors After Stock’s 55% CrashBy Zachary Folk