What it's like living in Hong Kong as a billionaire, where the ultra-rich live in high-security mansions and spend $16 billion a year betting on horse racing

• Hong Kong has the highest concentration of super-rich people in the world.
• Approximately 93 billionaires live in the city.
• It's also been ranked the world's most expensive city for housing for the past eight years in a row.
• The billionaires of Hong Kong live in mansions in secluded neighborhoods like the Peak, bet big money on horse races, and dine at some of the city's 82 Michelin-starred restaurants.

Hong Kong is a city full of millionaires and billionaires.

The city now has the highest concentration of super-rich people in the world, surpassing New York City, Tokyo, and Paris. One in seven residents is a millionaire, and the city is home to approximately 93 billionaires.

Hong Kong is also the most expensive city in the world for housing. The Annual Demographia International Housing Affordability Survey has ranked Hong Kong the least affordable city for housing in the world for eight years in a row.

While many Hong Kong residents struggle to pay astronomical prices for "nano apartments" or "coffin homes," the city's ultra-rich residents live in multimillion dollar mansions in ritzy neighborhoods like Deep Water Bay or the Peak, drive Porsches, and eat at one of the city's 82 Michelin-starred restaurants.

Here's what life is like for a billionaire in Hong Kong.

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Hong Kong is a city full of super-rich people.

Source: Business Insider

The dense metropolis of nearly 7.4 million people is a major port city and manufacturing and financial center.

Source: World Bank, Britannica

It has the highest concentration of ultra-wealthy individuals in the world, surpassing New York City, Tokyo, and Paris.

Source: Business Insider