Warren Buffett and Charlie Munger are big fans of Jeff Bezos.

At the Berkshire Hathaway annual meeting, the legendary investors praised the Amazon CEO saying that his ability to grow Amazon's business while running other projects like The Washington Post and Blue Origin was incredible.

"Jeff Bezos is a different species," Munger said.

Buffett said that Bezos has built Amazon into a dual threat as an amazing online retailer and the burgeoning dominance of its cloud computing business.

Buffett also tipped his cap to Bezos ability to be actively involved in his non-Amazon projects.

"At the Washington Post, he's played that hand incredibly," Buffett said. "He's been involved in the actual execution not just bank rolling the operation."

Buffett also called the Amazon CEO "the most remarkable business person of our age" during an interview with CNBC on Friday.

Buffett also joked that while they have faith in Bezos, they've missed out on the Amazon stock's meteoric rise.

"I was too dumb to realize what was going to happen," Buffett said, adding that he "underestimated the brilliance and the execution" of Bezos.