Maezawa, 42, will take his trip round the moon in SpaceX's Big Falcon Rocket (BFR) spaceship and will be the first man to travel to Earth's only natural satellite since the United States ended its Apollo missions in 1972. The BFR is a 35-storey-tall rocket created to launch and land like the SpaceX Falcon 9, but instead of satellites it will carry dozens of passengers on board. It's also supposed to be 100% re-usable.
But, he said he's already made a substantial down payment on the flight, and that the cost will significantly offset the cost to SpaceX to make it happen.
The trip is tentative set to occur in 2023. Twenty-four NASA astronauts flew to the moon from 1968 through 1972, and only 12 of them strolled its dusty surface.
Musk tweeted that "Yusaku will be bringing eight (brave) artists and cultural figures with him on the journey around the moon".
SpaceX also tweeted a render of the BFR on a trip around the Moon last Thursday, Sept. 13.
The 42-year-old Maezawa is one of Japan's most colorful executives and is a regular fixture in the country's gossipy weeklies with his collection of foreign and Japanese art, fast cars and celebrity girlfriend.
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The mission, which is now planned for 2023, will mark the first visit to the Moon by humans since Nasa's Apollo 17 landing in 1972. "When you're pushing the frontier, it's not a sure thing", Musk said.
Musk admits the mission is risky, but Maezawa told CBS News' Mireya Villarreal he's not afraid.
SpaceX did not reveal how much money did Maezaw had to pay to realise his childhood dream. There's always a chance that "something will go wrong".
The BFR, or Big Falcon Rocket, is SpaceX's forthcoming spaceship system that consists of two parts: A massive rocket booster that promises to out-power any ever built, and a towering spacecraft that will vault out of the Earth's atmosphere.
Musk further said that this mission isn't a walk in the park and is unsafe.
But Musk threw a curve ball during a Falcon Heavy press conference earlier this year when he told reporters that, for the time being, SpaceX had no plans to certify the Falcon Heavy for human spaceflight. Neither Musk nor Maezawa would say how much he is sinking into the project. The rocket isn't yet ready for the human space flight yet and work is on. Its last rocket, the Falcon Heavy, had its first successful launch almost five years later than planned.