Saudi Crown Prince Mohammed bin Salman has compelled Prince Al-Waleed bin Talal to participate in efforts to rescue the struggling electric vehicle manufacturer Lucid by entering as a partner and lending his reputation to back the company before international investors.

Prince Al-Waleed decided to comply with Prince Mohammed’s directives by injecting $100m to secure a 5% stake in the firm. This move drove the share price up for the first time since the company’s crisis began, netting Prince Al-Waleed a profit of approximately $10m within hours of his entry.

Market analysts noted that the surge was a bubble and predicted the stock would collapse once again when the market reopens.

It is worth noting that Prince Al-Waleed has been barred from travel since 2017, following the seizure of a substantial portion of his wealth by Prince Mohammed during the Ritz-Carlton crackdown.