The price tag for Maezawa's ticket isn't clear and SpaceX did not make that information public.
"These artists will be asked to create something after they return to Earth", he said. I want to share this experience and things. "Please say yes and accept my invitation!"
"He's paying a lot of money that would help with the ship and its booster", Musk told the crowd.
Maezawa was a skateboarder and drummer in his youth and founded the custom fashion company Zozo 20 years ago.
Mr Maezawa made headlines a year ago after paying $110.5m (£85.4m) for a painting by the late artist Jean-Michel Basquiat at an auction in NY.
Only 24 people in history have ever been to the Moon.
It will seat about a dozen, so that's how Maezawa can bring his artist friends.
What is the timeline for the SpaceX mission?
According to Wired, SpaceX signed a lease in April close to its existing headquarters, where it will build the BFR.
It's unclear what kind of training Maezawa will go through before touring the moon.
"We've been approached to do a crewed mission beyond the moon from some private individuals", Musk said at the time, not providing the names or gender of those individuals.
Boeing is also hard at work on its crew vehicle, with pioneering flights planned for 2019 as well.
SpaceX CEO Elon Musk described Maezawa as the "bravest" and "best adventurer".
"This is going to be risky".
Musk said the pair had paid a "significant" deposit and were "entering this with their eyes open, knowing that there is some risk here". Instead of standing 347 feet tall, it will be 387 feet.
Musk, who is well-known for issuing overly ambitious schedules, said during a Q&A in March that he hoped to begin testing the spaceship portion of the BFR sometime in 2019.
Maezawa's undisclosed payment will reportedly play a huge part in financing the development of BFR, which is estimated to cost around $5 billion.
"What is the most fun you can have in zero G?"
SpaceX said past year that it planned to send two private citizens around the moon in a Dragon crew capsule to be launched by a Falcon Heavy rocket.