"I choose to invite artists from all around the world on my journey", he said. "This is why I can not pass up this opportunity".
It's unclear what kind of training Maezawa will go through before touring the moon. The mission is now scheduled for 2023, so Maezawa will have some time to gather his dream team. On board the vehicle will be Maezawa as well as six to eight artists he will select through a process yet to be determined.
SpaceX noted in its announcement last week that "only 24 humans have been to the moon in history". He and his guests will become the first lunar travellers since Nasa's Apollo 17 mission in 1972.
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 U.S. ended its Apollo missions in 1972. That mission, which would have used the company's Falcon Heavy rocket and Dragon capsule, never happened. The trip was to have taken around a week.
Maezawa, 42, whose net worth is US$2.3 billion, is the founder and CEO of Japan's largest e-commerce company Start Today Co.
"I did not want to have such a fantastic experience by myself, " said Maezawa, wearing a blue sports jacket over a white T-shirt printed with a work by the late painter Jean-Michel Basquiat.
The trip will be expensive.
Maezawa declined to say how much he will pay for the trip, but said he has already made a downpayment - an amount Musk said will make a "material impact" on the BFR program.
Back to the space trip - and this is where it gets interesting. You have to be pretty loaded to score a tourist spot on a spaceship.
The era of space tourism began in 2001, when California businessman Dennis Tito paid for a journey on a Russian rocket to the International Space Station.
The rocket firm originally planned to send two private citizens on a space trip around Earth's closest neighbour, using the company's Big Falcon Rocket.
He wrote on his caption: 'My mission to go around the moon, as the first private passenger, will represent the imagination and curiosity of all people. The moon's orbit is, on average, 238,855 miles (384,400 km) away.
The BFR, for Big Falcon Rocket, will make a single swing around the moon.
The Big Falcon Rocket will be almost 400 feet long and equipped with a reusable booster rocket that will produce 200 tons of thrust.