"We haven't seen many businessmen like him," Berkshire Hathaway's chairman and CEO told CNBC's "Squawk Box." "Overwhelmingly, he's taken things you and I've been buying and he's figured out a way to make us happier buying those products, either by fast delivery or prices or whatever it may be, and that's remarkable."
Amazon has grown at an exponential rate since its foundation in 1997, and that's being reflected in its stock price. Since then, Amazon shares have grown nearly 44,000 percent.
Amazon in last 10 yearsSource: FactSet
Buffett also said that taking on Bezos at his own game would be a bad idea.
"That would be like me playing chess with Bobby Fischer 40 years ago; it would be all over on the first move. Jeff has just shown an amazing talent in figuring out how to please customers," he said.