Social Media, Billionaire | featured news

Facebook's stock market debut left founder and CEO Mark Zuckerberg with a paper fortune currently valued at $13 billion -- and a 2012 tax bill of around $1.1 billion.vZuckerberg's whopping tax hit stems from his move last May to increase his stake in Facebook. On the day of Facebook's initial public offering, Zuckerberg exercised a stock option and purchased 60 million Facebook shares at a "strike price" of 6 cents each.

A phone hacking scandal may have cost Rupert Murdoch his biggest-selling newspaper in 2011, but the billionaire media mogul managed to end the year with a modest addition to his empire -- an account on Twitter.

Move over Anthony Weiner, there is a new Casanova on Twitter. Chinese billionaire Wang Gongquan announced on the social media website that he was leaving his wife for his mistress, according to the Daily Mail. "I am giving up everything and eloping with Wang Qin. I feel ashamed and so am leaving without saying goodbye. I kneel down and beg forgiveness," he Tweeted.