Watch the full announcement in the video player below. "For me this project is very meaningful", Maezawa said at a news conference Monday.
"I would like to invite six to eight artists from around the world to join me on this mission to the Moon", Maezawa said.
SpaceX's BFR (Big Falcon Rocket) could well be the most important single vehicle in the history of humankind, should the various predictions about humanity's need to eventually vacate Earth and set up colonies on Mars come true.
SpaceX is a key commercial partner to NASA, and is working on a crew ship that will make its first flight to the orbiting International Space Station next year, restoring access to space from United States soil for the first time since 2011, when the space shuttle program was retired after 30 years.More news: Aaron Rodgers Hoping Knee Doesn't Get Worse
Before Monday's announcement, Musk last publicly described the BFR and showed renderings of the system at the 2017 International Aeronautical Congress.
Ahead of the anticipated announcement, SpaceX founder and CEO Elon Musk tweeted two new renders of the spacecraft that is now in development.
SpaceX said a year ago that it planned to send two private citizens around the moon in a Dragon crew capsule to be launched by a Falcon Heavy rocket.
Experts believe that rocket is several years away from launching.
Musk admits the mission is unsafe, but Maezawa told CBS News' Mireya Villarreal he's not afraid.More news: Tesla Model 3 gets 5-star side crash rating
The BFR is essentially a 48m long spaceship attached to the top of a reusable 36m rocket booster.
"This is the final iteration, in terms of broad architectural design", Musk told roughly 100 reporters during the press event.
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. Nevertheless, SpaceX is pressing on, and apparently feels confident enough in its work that it is comfortable parading its first paying private space "tourist" in front of the world.
Two of Musk's fellow billionaires - Amazon's Jeff Bezos and Virgin Group's Richard Branson - also want to make a business out of space tourism.More news: Nadal to skip Asian tournaments