Microsoft co-founder Paul Allen has a fancy new manse, and it's everything one would expect from a man whose net worth is in the neighborhood of $16 billion.

Though the professional ventures of this business magnate, investor and philanthropist are firmly tied to the Pacific Northwest - Allen founded Vulcan, Inc., in Bellevue, Wash., in 1986 and is the owner of the NFL's Seattle Seahawks and the NBA's Portland Trail Blazers - he recently made a multimillion-dollar purchase in the Bay Area.

Allen paid $27 million for a massive 22,000-square-foot custom home in affluent Atherton, Calif. The Silicon Valley Business Journal reported that he closed on the property in November 'through a family trust.' The property originally came to market in late September with a price tag of $31.8 million.

The contemporary home, built in 2013 by Pacific Peninsula Group, encompasses nearly two acres in the exclusive community outside of Menlo Park. The property features a sleek, light-filled main home that has six bedroom suites, four powder rooms, a spa, a home movie theater and seven fireplaces. Also found on the premises is a detached guest house with two bedroom suites and a kitchen.

Beautiful built-ins, walls of glass, vaulted ceilings and generally palatial accommodations run throughout the trophy home. Outside, a private pool, fire pit and patio area sit behind the main home, beneath a row of trees. A five-car garage also includes a 'house manager suite.'

Atherton has been a top choice for Bay Area royalty over the years, with various tech billionaires and sports icons calling the affluent community home. Google's Eric Schmidt, Hewlett-Packard's Meg Whitman, and Oracle's Mark Hurd live there; while San Francisco 49ers legend Jerry Rice chose the area as the perfect spot to build a custom mansion, which he sold earlier this year for $9 million.

Lance Freeman of Pacific Peninsula Properties was the listing agent for Paul Allen's new home.