Elon Musk, Power, and the Unmasking of Modern Oligarchs: “Squid Game” Creator Speaks Out

The Collision of Fiction and Reality in Squid

The creator of the globally acclaimed Netflix series Squid Game, Hwang Dong-hyuk, has revealed an unexpected inspiration behind some of the show’s most notorious characters. In a recent interview with Time magazine, Hwang admitted that the show’s masked billionaires—known as the VIPs—were written with real-life tech titans in mind, particularly Elon Musk. This creative revelation adds a provocative layer to the already dystopian narrative of Squid Game, which satirizes class division, capitalism, and unchecked wealth.

The VIPs, introduced in Season 1, Episode 7 (“V.I.P.S”), are portrayed as detached, English-speaking elites who observe a brutal contest where desperate, indebted players compete for a massive cash prize. These privileged onlookers bet on human lives for sport, cushioned by luxury and completely removed from the suffering of the players. One of them, Oh Il-nam, the mastermind behind the deadly games, even inserts himself into the competition, revealing he created the contest to combat boredom during his final days.

As Squid Game evolves into its third and final season, these VIPs take on an even darker role. No longer content with watching from afar, they don guard uniforms and directly execute eliminated players. According to Hwang, this symbolic unmasking reflects a broader cultural shift. Where the wealthy elite once operated from the shadows, today’s power brokers—particularly in America—step into the spotlight, flaunting their influence and financial backing with pride.

Hwang singles out Elon Musk as a prime example of this phenomenon. Musk, who commands one of the world’s most powerful tech empires, is not just a business magnate but a public spectacle. “He’s everywhere these days,” Hwang noted, highlighting Musk’s omnipresence in global discourse. While he didn’t design the VIPs as direct caricatures, Hwang admits the similarities became apparent—these ultra-rich showmen are no longer hiding behind curtains. They’re front and center, shaping policy, culture, and perception.

This narrative shift reflects a chilling reality: the oligarchs of the digital age aren’t just influencing the system—they are the system.

What Undercode Say:

The comparison Hwang Dong-hyuk draws between Squid Game’s fictional VIPs and real-life figures like Elon Musk is more than a clever narrative twist—it’s a cultural diagnosis. In many ways, Squid Game acts as a modern-day parable, revealing the grotesque excesses of capitalist societies and the moral vacuum that often accompanies extreme wealth.

Elon Musk, as a symbolic figure, represents both innovation and the arrogance of unchecked influence. His ventures—Tesla, SpaceX, X (formerly Twitter)—are not just corporate empires; they’re global power tools. Musk’s actions shape markets, sway politics, and even redefine free speech. In that light, the parallel to the masked VIPs becomes startlingly accurate. These characters observe life-and-death struggles not with empathy, but with detached amusement. That detachment is not fictional—it’s observable in how many tech elites treat social policy, labor rights, and democratic institutions.

When Hwang says the VIPs remove their masks in Season 3, it resonates on multiple levels. The metaphor speaks to a transparency that’s not liberating but ominous. The oligarchs no longer operate in secrecy—they are emboldened, declaring their control openly, buying influence, controlling narratives, and in some cases, redefining the rules of civic life altogether.

Consider how today’s tech magnates fund political candidates, reshape online discourse, and acquire media companies. These are no longer behind-the-scenes operators—they’re brandishing power as status symbols. This is what makes Squid Game terrifyingly real: the games may be fiction, but the architecture of exploitation is not.

Hwang’s perspective also disrupts traditional storytelling hierarchies. The “bad guys” in his universe aren’t anonymous monsters or abstract villains; they are familiar, media-savvy, and eerily relatable. They tweet, they invest, they trend on social platforms. This proximity makes them more dangerous—not hidden overlords, but influencers who smile as the system bleeds.

Ultimately, Squid Game Season 3’s decision to depict VIPs as direct executioners underscores a brutal truth: power, when unaccountable, always gravitates toward violence. Whether it’s symbolic or literal, the elite’s willingness to get their hands dirty suggests a future where distance from destruction is no longer necessary.

In that sense, Hwang is sounding an alarm. The line between satire and reality is fading, and the masks are coming off—not just in fiction, but in life.

🔍 Fact Checker Results

✅ Elon Musk is not explicitly named in Squid Game, but Hwang confirms the resemblance was intentional after writing.
✅ VIP characters first appeared in Episode 7 of Season 1 and embody elite detachment and cruelty.
✅ Season 3 includes a narrative shift where VIPs actively engage in violence—this has been confirmed by Hwang in interviews.

📊 Prediction

As Squid Game Season 3 premieres, expect widespread debate over its real-world parallels. Audiences may begin dissecting more characters and story arcs for connections to public figures beyond Musk—such as Jeff Bezos or Mark Zuckerberg. The unmasking of fictional elites will likely inspire renewed scrutiny of real-life billionaires’ roles in politics, media, and societal collapse. Netflix may also face pressure (and praise) for leaning into overt political allegory, making this season one of its most controversial—and discussed—releases yet.