Photo Credit: Flynet Pictures
And the Wiki says…
In a Blender interview in March 2007, Wentz alluded to being bisexual, stating that he has kissed males before and that “anybody above the waist is totally fair game.” In the May 2007 issue of The Advocate, Wentz opened up about his sexuality, stating that he is sexually attracted to males, but he hasn’t had sexual relations with other men because “I’m not a fan of penises”.
He explained later in an NPR story in November 2007, saying, “I would never come out and say I’m gay, because I’m not gay. There’s part of me that kind of wishes I was gay, and I think that comes from anybody constantly wishing they were in the minority and constantly wants to be fighting everybody off.” [Wiki]