Greg Merson is 2012 WSOP World Champ

Greg Merson, 2012 Main Event Champion ($8.5 million) and WSOP Player of the Year

The first pot three-handed went to Greg Merson (wiki), who started with 44.7% of the chips in play (88,350,000).
Jesse Sylvia started with 62,750,000 (31.8%)
21-year old Jake Balsiger started with 46,375,000 (23.5%).

264 hands later, the last pot also went to Merson, whose Kd5d held up against Sylvia's QsJs all-in pre-flop, giving Merson the title of WSOP Player of the Year (overtaking Phil Hellmuth), but more importantly, Main Event World Champion.

After just 15 hands three-handed, Merson was up to 105,325,000 (53.2%), with Sylvia trailing at 48,850,000 (24.7%) and Balsiger still at the short stack with 43,800,000 (22.1%).

On Hand 157 of the final table, Balsiger doubled up through Sylvia when his Jacks held up against Nines aipf, making Sylvia the short stack with 37,100,000 (18.7%)

On Hand 252, Balsiger doubled up through Sylvia when his ATo turned a Ten to win against AQo aipf, bringing Balsiger to 38.8 million, with Sylvia at 42.4 million and Merson at 116.8 million (Level 39, 500,000-1,000,000, 150,000 ante.

Only two hands later, Sylvia doubled through Merson when his AKo rivered a miracle wheel (board 3x5x2x8x4x) to win vs. Merson's Kings aipf, bringing Sylvia to the chip lead with 85.5 million, leaving Merson with 74.3 million and Balsiger with 38.2 million.

After 247(!) hands of three-handed, Balsiger was eliminated in third place, cashing for almost $3.8 million.

After only 17 hands heads-up play, Merson and Sylvia got it all-in with King high vs. Queen high, with Merson's K5 suited holding up vs. QJ suited.  For his efforts as runner-up, Sylvia receives almost $5.3 million, putting him at #4 on the WSOP 2012 Money List.

Meanwhile, Merson wins the 2012 Main Event Gold Bracelet and over $8.5 million in cash (before taxes).  This bracelet is Merson's second, as he won the $10k Six-Handed Bracelet in July for $1.14 million (he is the second player since Chris Ferguson in 2000 to win an open bracelet as well as the Main Event bracelet in the same year).  This puts him at #3 on the WSOP 2012 Money List and #20 on the WSOP All Time Money List.

35 carats of diamond & 170 grams of gold makes Merson the owner of the most expensive Championship jewelry on earth

Merson, who beat a field of 6,598 players, also recently joined forces with Phil Ivey and IveyPoker.  Ivey was seen on Merson's rail on Day 10.  Congratulations to Greg!