Hwang Dong-hyuk, the mastermind behind Netflix’s global phenomenon Squid Game, asserts that the show’s notorious billionaire VIPs increasingly reflect the traits of real-world oligarchs, particularly highlighting Elon Musk as a notable example.
Key Takeaways:
- Hwang stated that the VIPs in Squid Game have begun to resemble Elon Musk.
- In the upcoming Season 3, the VIPs transition from bystanders to active hunters.
- The creator was inspired by global inequality and recent political unrest in South Korea while crafting the final season.
In a recent interview with TIME released on Friday, Hwang remarked on Musk’s pervasive presence in contemporary discussions, saying, “Elon Musk is everywhere these days, right? Everybody talks about him… some of the VIPs do kind of resemble Elon Musk.”
This commentary coincides with the highly awaited premiere of Squid Game’s third and final season on June 27, which culminates the dark narrative of perilous games and societal conflict.
Squid Game’s VIPs Turn Hunters in Season 3
In the latest episodes, the masked billionaires shed their passive spectator roles, replacing them with pink soldier uniforms as they take on the active role of hunters, armed with machine guns.
Hwang explained to TIME that the transformation of these characters mirrors his dissatisfaction with how today’s wealthy elite increasingly assert their dominance in society. “In the past, those that really controlled the system were hidden behind the curtain,” he stated. “It’s no longer the case… They willingly take their masks off, almost as if to declare, ‘We’re the ones running everything.’”
The resemblance to Musk is particularly pronounced, especially given his current net worth of $409.8 billion, which exceeds the GDP of several countries, including Denmark and Malaysia.
At this time, neither Tesla nor SpaceX has responded to Hwang’s observations.
Can we just all agree who the real king of season three was?#SquidGame #SquidGame3 pic.twitter.com/ygedr2PvHp
— Helen (@madnesspalace) June 29, 2025
Additionally, Musk’s ongoing public disputes with former President Trump regarding a controversial $2.4 trillion spending bill, which Musk labeled a “disgusting abomination,” have kept him prominently featured in international media.
Meanwhile, Amazon founder Jeff Bezos attracted attention with reports of his extravagant $46 million wedding in Venice, which involved 90 private jets, coinciding with the weekend of Squid Game’s release.
Hwang expressed that his creative vision was influenced by escalating inequality, rising political division, and recent unrest in South Korea, where former President Yoon Suk-yeol had declared martial law prior to his departure from office.
Korea’s FSC Eyes Spot Crypto ETFs
In related news, the Financial Services Commission (FSC) of South Korea has shared a proposal with the Presidential Committee on Policy Planning that endorses the approval of spot cryptocurrency exchange-traded funds (ETFs).
This initiative follows President Lee Jae-myung’s campaign commitment to modernize regulations surrounding digital assets and increase investment opportunities for a younger demographic.
The outlined plan aims to implement measures for spot crypto ETFs and establish regulatory frameworks for won-based stablecoins by the second half of 2025.
Traditionally, the FSC had prevented the approval of crypto ETFs due to concerns over volatility and financial risks, asserting that cryptocurrencies were inappropriate as underlying assets.
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