President Joe Biden and his family are vacationing at a Lake Tahoe home belonging to billionaire Tom Steyer, whom Biden defeated in the 2020 Democratic presidential race.

The private home, owned by Steyer and his wife Kat Taylor, is located in the Glenbrook community on the east side of the lake, a popular tourist destination straddling California and Nevada. The Bidens are renting the house “for fair market value,” the White House said in a statement.

Steyer is an investor, environmental activist and Democratic megadonor. He suspended his presidential campaign in February 2020 after placing a distant third in the South Carolina Democratic primary won by Biden.

The Tahoe home is located in a gated neighborhood. The median listing home price in July in Glenbrook was $8.4 million, according to Realtor.com.

The president and first lady Jill Biden plan to spend the week at Lake Tahoe with their family. They arrived late Friday on Air Force One after President Biden hosted a summit meeting at Camp David with the leaders of Japan and South Korea, and plan to depart next Saturday.

Several Biden relatives — including his daughter Ashley, grandchildren Maisy and Naomi and the latter’s husband, Peter Neal — also flew on the presidential jet. Biden’s son Hunter, his wife Melissa Cohen and their son Beau were already at the home when the president landed, according to the White House.

The trip comes one week after Attorney General Merrick Garland made David Weiss, the federal prosecutor investigating Hunter Biden, a special counsel in order to continue the probe after a plea deal collapsed with the president’s son on tax and gun charges.

The president and first lady will pause their getaway Monday to travel to Maui, where wildfires killed at least 114 people and destroyed the seaside town of Lahaina. They will meet with federal, state and local officials, tour fire-damaged areas and speak with survivors and first responders, according to the White House.

Biden vacationed earlier this month in Rehoboth Beach, Delaware, where he owns a home. He received criticism while at the beach last weekend when he curtly responded “no comment” to reporters who asked about the death toll in Maui.