AutoZone has been one of America’s best-performing stocks for decades, building a business that has increased sales every year since 1987. On this episode of Beyond the Billions, staff writer John Hyatt joins deputy editor Giacomo Tognini to discuss how this company made a fortune by knowing that when your car breaks down, you have to buy the replacement part, no matter the price.
Learn about the clever financial moves that drove up its stock price and created thousands of millionaires among its employees. The parts giant that once sidestepped competition from Walmart is now facing its toughest challenge yet from massive online retailers like Amazon and a shrinking number of customers who fix their own vehicles.
00:00 This Week In Billionaires Recap
03:27 How Do Founders’ Personalities Define Their Corporations?
05:28 AutoZone: The Rock-Solid Retailer
07:35 Understanding Inelastic Demand And How It Fuels AutoZone’s Growth
10:09 From Groceries To Auto Parts: Pitt Hyde Learns Something From Walmart
15:13 The Secret Formula: Buybacks, Stock Options And The $4,000 Share
19:09 How To Handle A Shrinking DIY Market
25:10 Amazon vs. AutoZone: Can Free Installation Win The Fight?
To read more about Autozone:
https://www.forbes.com/sites/johnhyatt/2025/09/26/how-devotion-to-diyers-and-financial-wizardry-made-autozone-one-of-americas-best-performing-stocks/
To read more about Pitt Hyde’s philanthropy in Memphis: https://www.forbes.com/sites/johnhyatt/2025/09/26/how-devotion-to-diyers-and-financial-wizardry-made-autozone-one-of-americas-best-performing-stocks/
To read more about OpenAI’s deal with AMD: https://www.forbes.com/sites/siladityaray/2025/10/06/amd-shares-surge-30-after-multibillion-dollar-deal-with-openai/
To read more about the new billionaires from Fermi America’s IPO: https://www.forbes.com/sites/kylemullins/2025/10/01/former-energy-secretarys-startup-mints-two-billionaires-despite-no-revenues-rick-perry-toby-neugebauer/
To read more about Elon Musk’s net worth reaching $500 billion: https://www.forbes.com/sites/mattdurot/2025/10/01/elon-musk-just-became-the-first-person-ever-worth-500-billion/
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