Facebook chief faces tax bill of $1.5bn

Mark Zuckerberg faces a tax liability of more than $1.5bn this year, vaulting the Facebook co-founder into the leagues of all-time highest taxpayers and leaving a big question mark over his company’s initial public offering.

News of the Facebook co-founder’s vast impending tax liability comes amid a national debate in the US over whether the country’s top earners are paying enough in taxes.