Musk described a slightly scaled-down 348-foot-tall rocket in September 2017 and announced that the private space company aimed to launch two cargo missions to Mars in 2022.
Neither Maezawa nor Musk would disclose the price of the flight, but Musk said that Maezawa - who had been one of the two customers for SpaceX's earlier plans for a circumlunar flight on a Dragon announced almost 18 months ago, but since shelved - had already made a down payment.
Our correspondent, Mary MacCarthy, joins us from Los Angeles.
"I want to share this experience and things with as many people as possible", Maezawa said. The Big Falcon Rocket (BFR) has not yet been built.
The diminutive Maezawa, who as a young man struggled to find clothes that fit, hopes to revolutionize the fashion industry through his Zozosuit, which once donned allows users to upload their body measurements and order a growing number of made-to-measure items.
If all goes according to plan, Maezawa and his artist crew may become the first people to fly SpaceX's Big Falcon Rocket - a new launch system that's being created to colonize Mars - and also the first-ever private lunar tourist in history.
Maezawa, 42, said he wants his guests for the lunar orbit "to see the moon up close, and the Earth in full view, and create work to reflect their experience".
Japanese CEO and Entrepreneur Yusaku Maezawa is the lucky passenger who will be the first person to trip to the moon.
He said he would invite six to eight artists, architects, designers and other creative people on the week-long journey to circumnavigate the moon in 2023.
Sewing needles have been found DELIBERATELY hidden inside strawberries
Alternatively, shoppers who had frozen their strawberries could keep them until after police finished their investigation. She urged anyone uncertain about the safety of their fruit to cut the strawberries in half before eating them.
Maezawa declined to say how much he's paying for the flight, but Musk said it'll be free for the artists.
The Japanese billionaire who will become the first ever private tourist to fly around the moon.
Elon Musk, CEO of SpaceX, just made a number of major announcements in a press conference he organised at SpaceX HQ in Hawthorne.
"It will have a material effect on paying for the cost of the development of BFR", Musk said of the mission's price.
The first private passenger to travel around the moon has been named by Elon Musk's space transportation company, SpaceX.
SpaceX has been hyping the planned Big Falcon Rocket (BFR) Lunar Mission as an epic trip.
Like SpaceX's existing rockets, the Falcon 9 and Falcon Heavy, the first stage can detach from the rest of the rocket and return to Earth for an upright landing. That mission was to use SpaceX's Dragon capsule and Falcon Heavy rocket. He had said that the trip would happen this year.
In an interview in March, Musk said the ship was now being built, adding "I think we'll probably be able to do short flights, short sort of up-and-down flights, probably sometime in the first half of next year".