Chinese billionaire Siliang ‘Eric’ Tan is the buyer of one of the crown jewels of Newport Beach, California. Tan spent $37 million on the 14,000 square footer on Harbor Island, a tidy sum compared to its last asking price of $18 million, recorded in 2010 when billionaire investor Alan True inked a contract for ownership.

Set on a lot that terminates at the end of a small peninsula, the Italianate villa boasts water frontage on three sides, making it an extraordinary property in one of the most desirable neighborhoods north of Los Angeles. It dates to 1990.

The interiors of the house feature a few striking details. Tops on the list is the sculpted floating staircase with solid balustrade, which is presided over by a circular roof light and a large contemporary chandelier, an entertainment space with a wet bar, and an office that boasts a fireplace flanked by sets of French doors that open to a terrace. The basement is currently purposed as a games room, and contains another wet bar.

The master suite is extraordinary, with a luxurious degree of space. The bedroom—one of six in the home—incorporates a lavish idea of scale, and boasts a marble fireplace and a series of French doors that open onto a lengthy balcony. The walk-in closet and dressing rooms are augmented by a lounge with another fireplace.

Terrace space is arranged between house and water on all three waterfront sides of the property. A fire feature, pool, lawns, and oceanfront walkway are highlights of the exterior living style.

Tan co-founded Qutoutiao, an AI-driven app that collects user information to display personalized headline and article suggestions. His net worth is ~$2 billion.