The decision came as a result of mounting uncertainty surrounding the feasibility of the mission.

Maezawa, who made headlines in 2018 with his plans for a lunar flyby voyage, had purchased seats for eight traveling companions for the scheduled 2022 trip. This would have marked his second space journey, following his 12-day trip to the International Space Station on a Russian Soyuz spacecraft in 2021. However, the ambitious target of a moon trip in 2023 was seen by experts as overly optimistic, given the progress of SpaceX's Spaceship mega-rocket project.

In a statement posted on the mission organizer's website on Saturday, it was announced that the project had become "unfeasible." The lack of clear schedule certainty in the near-term led Maezawa to make the unfortunate decision to cancel the endeavor. The statement expressed gratitude to all who had supported the project and apologized for the outcome.

Maezawa himself shared his regrets and reasoning behind the cancellation. In a message on X, he stated that he couldn't plan his future amidst the current situation, and he felt terrible making the crew members wait longer. He acknowledged the disappointment of those who were excited about the project and apologized for the sudden cancellation.

Maezawa had signed the contract with SpaceX in 2018, under the assumption that the launch would be possible by the end of 2023. However, the ongoing developmental nature of the Starship project has created uncertainties regarding its launch timeline. SpaceX faced setbacks in the form of failed test flights, including explosions shortly after liftoff and the loss of a spacecraft during descent back to Earth in March.

It is a disappointing turn of events for Maezawa, who, along with his producer, made history in December 2021 by becoming self-paying tourists to visit the International Space Station since 2009. With the cancellation of the moon mission, the Japanese billionaire's space exploration plans have hit a roadblock.

While the cancellation may come as a disappointment to space enthusiasts around the world, it underscores the complex nature of space travel and the challenges faced by private space ventures. As SpaceX continues to refine its technologies and work towards achieving successful launches, the dream of private space exploration remains on the horizon, but with uncertain timelines.

The cancellation serves as a reminder that space missions, especially those of such magnitude, require meticulous planning, technical advancements, and a clear understanding of the conditions necessary for a safe and successful journey. Until further progress is made, Yusaku Maezawa's aspirations for a private flight around the moon will remain on hold.