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Jeff Bezos sells 1 mn Amazon shares worth $3.1 bn after fortune surges

The disposals, disclosed Wednesday in Securities and Exchange Commission filings, adds to a $4.1 billion sale earlier this year

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The proceeds are a fraction of the amount that Bezos’s holdings have increased this year as the Covid-19 pandemic forced people to stay at home and created a surge in demand for Amazon’s e-commerce services.

Jack Pitcher | Bloomberg
The numbers are eye-popping: 1 million Amazon.com Inc. shares offloaded for more than $3.1 billion. And yet for the seller, Jeff Bezos, it barely puts a dent in his stake in the e-commerce giant.

The disposals, disclosed Wednesday in Securities and Exchange Commission filings, adds to a $4.1 billion sale earlier this year. The proceeds are a fraction of the amount that Bezos’s holdings have increased this year as the Covid-19 pandemic forced people to stay at home and created a surge in demand for Amazon’s e-commerce services.

For Bezos, 56, this year has been a reversal from years of