Donald Trump is not going to run as a third-party presidential candidate, even if he’s denied the Republican nomination.

There, I said it.

I’m not saying whether it would be a good idea for the GOP to deny him the nomination if he gets a plurality but not a majority of the delegates. But if it does, he won’t run third-party: He can’t afford it.

I direct you to his personal financial disclosure form, which said he had about $300 million in cash and marketable securities. That’s a lot of money! Stunningly, however, it is not enough money to run a major presidential campaign, which now clocks in at around $1 billion.

If Trump runs as a third-party candidate, the money to do so is going to have to come mostly out of his own pocket. The Republican Party’s traditional donors certainly aren’t going to help him. And so far, he’s shown no ability to raise the kind of staggering totals that, say, Bernie Sanders has managed to get from small donors. Trump’s campaign has raised just $25 million, of which only about $8 million comes from sources other than Donald J. Trump. He’s raised less in small contributions than Ted Cruz or Marco Rubio have.