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IAC CHAIRMAN (AND billionaire) Barry Diller announced earlier this year that he and his wife are funding $130 million of a $170 million floating park in the Hudson River called Pier 55.

On stage at Business Insider’s Ignition conference, Diller said that he feels lucky to be part of such an ambitious project.The park will be built 186 feet off the Hudson River shoreline, near 14th Street in New York City.

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It will be supported by 300 mushroom-shaped concrete columns (“Not the kind of mushrooms you probably hope,” Diller joked to Business Insider CEO Henry Blodget).

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“We’ve been plotting this for almost two years,” Diller says. “It will take us another four years to actually build it.”

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The park will have gardens, wandering paths, and a 700-seat amphitheatre.

The park will have gardens, wandering paths, and a 700-seat amphitheater.

"It will be a performance place for every kind of discipline of music, spoken theater, ballet, orchestra," Diller says.

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He says he feels lucky to be working on it.

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The $113 million pledge by Diller and his wife, fashion designer Diane von Furstenberg, is the largest private donation to a public park in New York City history.

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The new pier was designed by Heatherwick Studio in collaboration with landscape architect Signe Nielsen.

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This is the futuristic $130 million floating park being built on a New York river