Real-World Billionaires Take Center Stage in Squid Game

As the much-anticipated third and final season of Netflix’s global sensation Squid Game premieres, the show’s creator, Hwang Dong-hyuk, is drawing striking parallels between his fictional ultra-wealthy VIPs and today’s most visible billionaires—most notably, Elon Musk.

Hwang’s latest comments underscore a growing cultural conversation about the influence and transparency of the world’s richest individuals.

In a recent interview with TIME, Hwang Dong-hyuk revealed that the evolution of Squid Game’s VIP villains was directly inspired by high-profile figures like Musk, whose presence and power are impossible to ignore.

“Elon Musk is everywhere these days, right? Everybody talks about him. Not only is he the head of a huge tech company that controls the world almost, but he's also this showman. After writing Season 3, of course I thought, 'Oh, some of the VIPs do kind of resemble Elon Musk.”

In the new season, the VIPs were shown shedding their trademark animal masks and formal attire and donning the infamous pink soldier uniforms, signifying their more direct and violent role in the deadly games.

Hwangs describes that the same shift could be seen in the real world: where the ultra-rich no longer hide their influence, but openly shape global events.

The timing of Hwang’s remarks is significant. Elon Musk, who has a net worth of $409.8 billion, has become synonymous with outsized influence.

After recently stepping down from his controversial role as head of the Trump administration’s Department of Government Efficiency (DOGE),Musk has publicly clashed with Trump over a $2.4 trillion spending bill, calling it a “disgusting abomination”.

Even after his exit from DOGE, Musk continues to make headlines through ventures like Tesla, SpaceX, and his AI startup xAI, which is currently seeking $4.3 billion in fresh funding.

The Ultra-Rich Are No Longer Hiding Behind the Curtains

Hwang’s frustration with the growing visibility and influence of oligarchs is woven throughout the new season. He notes that, unlike in the past, today’s power brokers are no longer content to operate in the shadows.

“In the past, those that really controlled the system and maintained power, they were hidden behind the curtain. However, it’s no longer the case, especially in America. They willingly take their masks off, almost as if to declare, ‘We’re the ones running everything. We’re the ones in control.”

The show’s release coincided with other displays of extreme wealth and influence, such as Amazon CEO Jeff Bezos’s $46 million Venice wedding, which reportedly required 90 private jets for guest transportation.

Hwang also cited inspiration from global political polarization and South Korea’s own recent political turmoil, including the declaration of martial law by former President Yoon Suk-yeol.

Art Imitates Life in Squid Game’s Final Act

As Squid Game Season 3 brings the series to a dramatic close, its portrayal of unmasked, hands-on billionaires resonates more than ever.

Hwang Dong-hyuk’s creative choices reflect a world where the ultra-rich are not just characters on screen, but active participants in shaping the future—no longer masked, but unmistakably in control.