Bezos defends billionaires, hypes AI, talks taxes and praises Trump in major CNBC interview

In a notable interview with CNBC on Wednesday, Jeff Bezos, the founder of Amazon and Blue Origin, expressed his support for artificial intelligence, attributed the nation’s economic challenges to government interference, and staunchly defended both himself and other billionaires.

During a comprehensive discussion with Andrew Ross Sorkin, Bezos adopted a populist approach, at times resonating more with progressive Democrats than reflecting his status as one of history's leading capitalists.

"It's kind of a tale of two economies," Bezos remarked when discussing the escalating scrutiny of billionaires. "You have a bunch of people in this country who are doing really well, but you also have a bunch of people in this country who are struggling."

He subsequently backed a tax policy proposal reminiscent of those introduced by some Democrats aiming to appeal to working-class constituents: the elimination of income taxes for the bottom half of U.S. earners.

"A nurse in Queens who makes $75,000 a year pays more than $12,000 a year in taxes," Bezos noted. "Does that really make sense?"

Bezos decries 'vilification' of the rich

Following his acknowledgment of Americans' financial hardships, Bezos, ranked as the world's fourth-richest individual, criticized politicians for employing an "age-old technique" of identifying a villain to blame.

"The problem is, that doesn't solve anything," he stated, specifically addressing New York City Mayor Zohran Mamdani's remarks regarding billionaire Citadel CEO Ken Griffin, which accompanied the proposal of a new pied-à-terre tax.

"It isn't right" for the mayor to "stand in front of Ken Griffin's house and act like he is some kind of villain," Bezos asserted. "Ken Griffin isn't a villain, he hasn't hurt anybody, he's not hurting New York, in fact quite the opposite."

When asked if his proposal to alleviate taxes for low-income Americans should coincide with increased tax rates for high earners, Bezos considered it a legitimate discussion but condemned the "vilification" that often accompanies it.

"We already have the most progressive tax system in the world," he stated, contending that overspending, rather than a lack of revenue, is the root cause of the nation's fiscal challenges.

He countered criticisms, including those from Senator Elizabeth Warren, D-Mass., who suggest he does not pay sufficient taxes.

"People sometimes say that, you know, I don't pay taxes. Not true. I pay billions of dollars in taxes," he emphasized.

Bezos insisted that increasing his tax burden alone would not address larger issues: "You could double the taxes I pay, and it's not going to help that teacher in Queens, I promise you."

In response, Mamdani later posted on X, "I know a few teachers in Queens who would beg to differ."

Bezos proceeded to attribute high rental costs to government intervention in markets. While he acknowledged that "there's way too much influence in politics" from corporations and wealthy individuals, he also criticized unions for their political interference.

Buy, borrow, deny?

Bezos categorically dismissed widespread claims that the wealthy engage in a tax avoidance strategy referred to as "buy, borrow, die," whereby they leverage their significant assets to reduce tax liabilities.

"There's no truth to this 'buy, borrow, die' thing. I don't even know where this comes from," he stated, adding that he regularly sells Amazon stock.

When Sorkin pointed out that Elon Musk, the world's richest person, takes sizable loans against his stock, Bezos remarked, "I'm a little skeptical that that's a true loophole, but if it is, can we fix it? Then we should."

However, he maintained that resolving this issue would have minimal impact. "That nurse in Queens ... it's not going to help her at all," he reiterated.

Bezos strongly rejected the narrative suggesting that the vast wealth of billionaires cannot be justly earned.

"It's not correct on its face," he asserted, countering arguments made by politicians such as Representative Alexandria Ocasio-Cortez, D-N.Y.

He cited fast-food chains like In-N-Out Burger and Raising Cane's Chicken Fingers as exemplars of legitimate business successes.

"The way the way you make $1 billion, or $100 million or $10 million or anything, is you create a service that people love, and if millions of people choose your service, you're going to end up with a billion dollars," he explained. "Just try it with a chicken franchise."

AI OK

Bezos also addressed concerns surrounding the potential job displacement caused by artificial intelligence, positing that this technology will enhance worker capabilities and stimulate economic growth.

"I think those people are dead wrong," he stated regarding skeptics of AI. "What's really going to happen is that it's going to elevate all of these people."

He forecasted that the emerging technology will enhance productivity, leading to deflation across a broad spectrum of goods and services—provided that "we let this technology play out and don't hamstring it with regulation too early."

This optimistic view comes despite a recent deterioration in public sentiment toward AI. A survey by the Pew Research Center indicated that half of U.S. adults are more concerned than excited about the increasing integration of AI in everyday life, citing potential negative effects on creativity, relationships, education, and job security.

Additionally, the rapid development of AI data centers, sometimes spanning vast areas, has prompted significant backlash from communities worried about their local impact.

Concerns have also emerged regarding AI coding tools developed by companies like Anthropic and Cursor, which some fear may threaten the job security of software engineers and programmers. While tech companies have reported productivity benefits from these tools amidst broader cost-saving measures resulting in layoffs, Bezos contended that AI aids programmers in identifying and resolving issues within their workflows.

"It's just that the work is going to be done at a higher level," he articulated. "It's going to be done with a bulldozer instead of a shovel, and that's going to be a good thing."

Bezos sees a 'more mature' Trump

In his conversation with Sorkin, Bezos described President Donald Trump as a "more mature, more disciplined version of himself than he was in his first term."

"Trump has lots of good ideas, and he has done a lot of—he's been right about a lot of things. You have to give him credit where credit is due," Bezos acknowledged, although he did not elaborate on specific ideas. Trump's second-term administration has frequently engaged with the free market to support select corporations, including Intel, Boeing, and U.S. Steel.

Bezos rejected suggestions that Amazon's decision to showcase a documentary featuring first lady Melania Trump was an attempt to gain favor with the president. "The Melania thing is a falsehood that will not die," he remarked.

He framed his initiatives as nonpartisan, noting that he has also engaged with former Democratic Presidents Barack Obama and Joe Biden.

"We need our business leaders to provide input into the administration, regardless of who the president is," he stated.

"I'm on the side of America," he concluded. "And that's where business leaders should be."