Shares of Facebook (FB) rose Wednesday after CEO Mark Zuckerberg and two top investors pledged to retain their shares for a year. Shares have gotten pummeled almost daily since they debuted earlier this year.

Facebook is still a bad bet for most investors, even with this public relations stunt. For one thing, Zuckerberg doesn't need the money. His net worth is about $12.1 billion, even with the 53% decline in the company's stock price. 

Zuckerberg sold a tiny amount of his holdings during the May IPO to raise $1.1 billion to cover his taxes. Wall Street executives would probably give their firstborn for the chance to lend Zuckerberg boatloads of cash based on the value of his holdings. In July, Zuckerberg refinanced the 30-year, $5.95 million mortgage on his home at rate of 1.05%.  That is not a typo.

Facebook directors Marc Andressen and Donald Graham, who pledged to sell Facebook shares only to cover their tax obligations, are in a similar situation. Andreeeson, a co-founder of Netscape, is one of the most successful entrepreneurs in Silicon Valley, thanks to his investments in Twitter, LinkedIn and Skype, among others. Graham's grandfather Eugene Meyer bought the Washington Post (WPO) at a bankruptcy sale in 1933. His net worth is estimated at $500 million.
 
The pop in Facebook's stock won't last. Wall Street analysts are expecting profit and revenue to decline for the next few quarters. The average 52-week price target is $34.50, almost double where it currently trades. Given the huge challenges facing Facebook, that target seems to be wishful thinking.

Jonathan Berr does not own shares of the listed stocks. Follow him on Twitter@jdberr.