SpaceX IPO could make Elon Musk the first-ever trillionaire

Elon Musk is photographed at Space X in Brownsville, Texas, May 27, 2025. (Marvin Joseph/The Washington Post via Getty Images)

(NEW YORK) -- Elon Musk, the wealthiest person alive, could become the first-ever trillionaire when SpaceX goes public on Friday.

The company's founder and CEO is set to own roughly four out of every 10 SpaceX shares after the initial public offering (IPO). If SpaceX were to achieve its target valuation of $1.75 trillion, Musk would accrue hundreds of millions of dollars in new wealth, at least on paper.

SpaceX builds and operates spacecraft, including thousands of satellites deployed in support of its Starlink satellite internet service. Earlier this year, the Texas-based firm merged with xAI, a Musk-led artificial intelligence company that offers the chatbot Grok.

The potential financial windfall would vault Musk even further ahead of other financial titans. Musk currently boasts a net worth of about $780 billion, according to Forbes. The second-wealthiest person in the world, Google founder Larry Page, counts a net worth of $291 billion.

If Musk were to become a trillionaire, his net worth would exceed the wealth of the poorest 46% of the global population, or about 3.8 billion people, according to a report issued by non-profit Oxfam on Thursday.

The benchmark would indicate Musk's wealth had grown about $550 billion over the past year, which breaks down to more than $1 million per day, Oxfam said.

After the IPO, Musk could own a major stake in two of the 10-largest companies in the world as measured by market capitalization: Tesla and SpaceX.

Musk's wealth stems primarily from the sizable stakes he holds in those two companies, Jason Schloetzer, a professor of accounting at Georgetown University who focuses on executive compensation, told ABC News.

His wealth, in other words, will depend in large part on the price of shares in those firms.

The SpaceX IPO has divided stock analysts, some of whom tout its earnings potential in the lucrative aerospace and AI industries, even as others bemoan what they view as pie-in-the-sky initiatives like space-bound data centers.

The company's revenue jumped to $18.7 billion in 2025, soaring 33% compared to the previous year, a financial filing showed. Nearly a quarter of that revenue came from Starlink, which counted millions of subscribers. Still, SpaceX failed to turn a profit, registering a loss of $4.9 billion last year.

The company is targeting a launch price of $135 per share, which would amount to a $1.75 trillion valuation and a massive boon for Musk. Under that scenario, Musk's net worth would sail well beyond $1 trillion. It would mark the largest IPO of all time.

Some analysts, however, have questioned that target valuation. Nicolas Owens, an analyst at Morningstar, issued a memo this week criticizing the hoped-for share price. Citing technological challenges faced by the company's AI initiatives, Owens pegged the value of the stock at about $63 a share, less than half of the target price.

After the IPO, SpaceX will be subject to new attention from public investors and regulators, which could test the company's long-term ambitions, Schloetzer said.

"It remains to be seen whether the valuation of SpaceX can maintain or whether we'll see it come down once it's under the scrutiny of public markets," Schloetzer added.

Observers seeking evidence of potential shareholder gains can look no further than Musk-led Tesla. Over the past five years, Tesla shares have soared 90%, outpacing a 71% rise in the S&P 500 over that time. But shares of Tesla have also been buoyed by moonshot ventures like self-driving taxis and humanoid robotics.

"Clearly, fundamentals matter in the long run," Schloetzer said. "But it seems like Musk has been able to defy fundamentals in the past and he may be able to do that again."

Regardless of its size, the potential influx of wealth from the SpaceX IPO comes with a catch. Musk cannot sell any of his SpaceX shares until a year after the IPO, according to a financial filing. After that, a move to sell shares would erode Musk's stake in the company and reduce his control over decision-making.

"Selling shares would dilute his ownership control and voting power, but he wants to retain that," Schloetzer said. "On paper, you may be wealthy, but that's an asset you're not willing to sell."

Meanwhile, Tesla shareholders last year granted Musk a compensation package that could earn him more than $1 trillion over the coming years, meaning he may eventually push toward a net worth of $2 trillion.

"The numbers are so large it's hard to wrap your brain around," Schloetzer said. 

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Man sentenced for child sex crimes

SMITH COUNTY – A jury found Michael Nobles guilty of indecency with a child by sexual contact and sentenced him to 40 years in the Texas Department of Criminal Justice. Prosecutors Angela Faulkner and Casey Sirianni presented evidence on June 10, indicating that Nobles coerced a 14-year-old girl to touch him in December 2022.

Later that day, the jury returned a guilty verdict after considering the evidence and hearing testimony. Nobles will have to register as a sexual offender for life as a direct consequence of his conviction.

Nobles was subject to an enhanced punishment range with a mandatory minimum of 25 years in prison because of his lengthy criminal history. Nobles is incarcerated for the third time in the state prison system as a result of this sentence. Continue reading Man sentenced for child sex crimes

Political blame game follows as screwworm parasite threatens cattle in Texas

LA PRYOR (AP) – U.S. Agriculture Secretary Brooke Rollins watched sterile flies being released to fight the New World screwworm on Thursday and visited the Texas ranch where one of the first cases of the pest was detected. The screwworm could devastate the nation’s cattle industry.

Later, she repeated her assertion that former President Joe Biden’s administration is responsible for the parasite’s return to the U.S. six decades after it was eradicated. Democratic leaders say cuts to the nation’s agriculture agency under President Donald Trump are to blame.

Screwworms are on their way to becoming a billion-dollar international problem, but can be contained if ranchers are vigilant, watch their herds and other wildlife, and quickly treat any infestations, Rollins said. She pointed to the calf where screwworms were found six days earlier in a wound where its umbilical cord had been attached.

“He couldn’t be happier. He’s bouncing around the pasture,” Rollins said.

Screwworms are flies that lay their eggs in the wounds of warm-blooded animals and feed on living flesh rather than dead tissues. Scientists say releasing sterile flies to mate with females is the most effective way to control the population, a strategy that has worked for decades. A warming planet is complicating efforts by giving screwworms, which thrive in hot, humid weather, more places to spread.

Billion-dollar response planned to fight screwworms

The U.S. Department of Agriculture is preparing an all-out assault on the screwworm, which had been contained in the narrow isthmus of Panama for decades.

No matter the cause, driving screwworms back south and keeping them out of the U.S. will be expensive. The USDA estimated it would spend over $1 billion on efforts to save cattle herds and other livestock.

About $750 million will go toward building and operating a plant capable of producing up to 300 million sterile flies a week. The technique has been used for decades, as female screwworms mate just once, and if they choose a sterile mate, their eggs don’t hatch, and the fly population dwindles.

The goal is to protect the U.S. cattle industry. Experts think the parasite shouldn’t cause an immediate increase in near-record-high beef prices as long as it doesn’t turn into an outbreak and large groups of cattle die. Screwworms don’t affect food safety.

The parasite has already disrupted the Mexican beef industry. The U.S. closed its southern ports to Mexican livestock last summer.

Mexico has had more than 28,000 cases of screwworms since the flies returned two years ago, mostly confined to its southern states. The Mexican government stopped the importation of almost all live animals from the U.S. after screwworms were discovered here.

Scientists aren’t sure how screwworms emerged again

The U.S. had been almost entirely rid of screwworms for 60 years, with scientists in North and Central America eventually driving it down to the containment zone in Panama. But in 2023, the flies emerged and began heading back north.

Experts say screwworms are here to stay at least for this summer. Seven cases have already been detected in Texas and New Mexico. A 12-mile (20-kilometer) quarantine zone goes up around every place a case is found.

As they work toward a solution, scientists say they aren’t sure exactly what led to screwworms leaving the area in Panama where they were boxed in.

“I don’t have the answer to that one, and I don’t know if anyone does. It doesn’t help us to speculate,” said Jonathan Cammack, a professor of livestock entomology and parasitology at Oklahoma State University.

The key now is to ramp up the sterile fly program and get international cooperation to get the pests back down to Panama, he said.

Climate change is also helping drive the spread of screwworms, said Lee Haines, an associate research professor of biological sciences at the University of Notre Dame.

“The fly is a creature of warmth as its entire life cycle, from egg to adult, can complete in as little as three weeks under tropical conditions,” Haines said.

Even Canada has temporarily stopped importing cattle, horses or other livestock from Texas. The parasites prefer humid areas where temperatures are at least 77 F (25 C), and those days are increasing further north.

Democrats question cuts; Republicans blame immigration

As Rollins moves quickly to implement a billion-dollar response to the screwworm outbreak, she has also blamed the Biden administration, noting that it was in office as the parasite began moving north again.

She said without showing any evidence the flies were with animals that followed immigrants north as well as hitching rides with cattle and other animals being sold by Mexican cartels outside of regular markets.

“People moving north to America, bringing their livestock with them, the Mexican cartels with the illicit cattle traffic, we knew it was coming,” Rollins told the U.S. Senate Agriculture Committee on Wednesday.

Nearly a dozen Democratic U.S. senators sent a letter to Rollins this week questioning whether job losses at the USDA have hurt food inspections and livestock safety programs.

Nearly 20% of the counties in the U.S. that started 2025 with at least one employee from the federal Animal Plant and Health Inspection Service ended the year with none, the letter said.

Rollins said she has moved over 100 USDA employees into the screwworm response. She said it has been one of her top priorities since Trump picked her to lead the USDA.

But Democratic U.S. Rep. Ted Lieu of California said blaming Biden is shortsighted and again shows the Trump administration creates problems through reckless spending cuts.

“The life cycle of a screwworm is about 14 to 54 days, depending on temperature and humidity. The Trump administration has been in office for over 500 days,” Lieu said earlier this week. “This is on the Trump administration. They need to own up to it, and they need to apologize.”

Scoreboard roundup — 6/11/26

(NEW YORK) -- Here are the scores from Thursday’s sports events:

NATIONAL HOCKEY LEAGUE
Golden Knights 2, Hurricanes 4 (Stanley Cup Final - Game 5, CAR leads series 3-2)

MAJOR LEAGUE BASEBALL
Diamondbacks 0, Marlins 2
Twins 0, Tigers 11
Cardinals 4, Mets 5
Rangers 4, Royals 2
Cubs 9, Rockies 3
Dodgers 8, Pirates 6
Mariners 5, Orioles 7
Braves, White Sox (POSTPONED)

Copyright © 2026, ABC Audio. All rights reserved.

In brief: ‘Widow’s Bay’ renewed, ‘Lioness’ season 3 teaser, and more

Widow's Bay has been renewed for season 2. Apple TV announced the news ahead of the horror comedy series' first season finale, which airs June 17. The show stars Matthew Rhys as the mayor of a New England town that may or may not be cursed ...

Lucy Score’s bestselling book Things We Never Got Over is becoming a TV series. Prime Video has given a series order to the project from showrunners Eric Charmelo and Nicole Snyder, who also penned the first episode. The premise follows a runaway bride who ends up in a small Virginia town where she meets a sexy but grumpy local …

The official teaser for season 3 of Lioness has been released. The spy thriller from Yellowstone hitmaker Taylor Sheridan stars Nicole Kidman and Zoe Saldaña as two CIA operatives running a program where female undercover agents help bring down terrorist organizations. Season 3 premieres Aug. 2 on Paramount+ …

We have our first teaser trailer for Disney and Pixar's Gatto. The new animated film follows the adventures of a Venetian cat named Nero. Mark Ruffalo and Laurence Fishburne lead the voice cast. Gatto lands in theaters on March 5, 2027. Disney is the parent company of Pixar and ABC News …

Copyright © 2026, ABC Audio. All rights reserved.

Body recovered in potential drowning

Body recovered in potential drowningCHEROKEE COUNTY – A body was recovered from Lake Palestine following a potential drowning on Thursday evening. According to Smith County ESD 2, crews are currently on the scene after a body was recovered from the lake earlier this evening.

The individual’s cause of death has not yet been revealed and KETK will update this article as more information becomes available.

Man arrested after marijuana farm worth $100k discovered in Polk County

POLK COUNTY, Texas (KETK) — The discovery of an indoor marijuana farm in Polk County has led to the arrest of a man, and several others to follow, the Polk County Sheriff’s Office said on Thursday.

While conducting a search warrant at a Livingston residence off of FM 943 on Wednesday, investigators located a “sophisticated indoor marijuana grow operation” on the property. Investigators were able to recover over 50 but less than 2,000 pounds of marijuana from the farm, amounting to an estimated worth of $100,000.

At the home, one resident was identified as Alexander Vega, who admitted to growing the marijuana. He was arrested and charged with possession of marijuana, a second-degree felony, the sheriff’s office said. Currently at the Polk County Jail, his bond has been set at $100,000.

Several other names connected to the farm were discovered during the investigation, and more suspects may be charged in the future.

“Due to the potential risks associated with chemicals and materials commonly used in indoor marijuana grow operations, members of the State’s Methamphetamine Initiative Group (MIG), a Houston HIDTA initiative, responded to assist with the removal of the marijuana plants and to help identify chemicals located on the property,” the sheriff’s office said.

As for the land, residences and two vehicles, the sheriff’s office looks to seek seizure through forfeiture proceedings.

“This investigation is another example of the dedication and persistence of our Narcotics Division and our law enforcement partners. Indoor grow operations are not simple marijuana cases,” Sheriff Byron Lyons said. “These operations can involve large amounts of drugs, dangerous chemicals, electrical hazards, and organized criminal activity. Our office will continue to aggressively investigate narcotics trafficking in Polk County and hold those responsible accountable.”

Mekai Curtis says he’s ‘extremely blessed’ to have spent five seasons on ‘Raising Kanan’

Poster for season 5 of 'Raising Kanan' (Starz)

Power Book III: Raising Kanan begins its countdown to the end on Friday, when the first episode of its fifth and final season premieres on Starz. For Mekai Curtis, the final season marks the culmination of his journey bringing his title character, Kanan Stark, to life on screen.

"I'm extremely blessed that I got to take a character [through] five seasons, that I get to tell this story and represent so many different walks of life, and then so many different understandings and viewpoints and approaches to life," Mekai tells ABC Audio. "This is something that every actor dreams of, is to have a role that has not just layers on screen, but off the screen as well."

Over the years Mekai has helped audiences understand the origin story of Kanan, a character first introduced as an adult in the original Power, where he was portrayed by 50 Cent. However, Mekai avoided studying 50's performance so he could deliver his own interpretation of the character.

"I kind of wanted to keep things organic, but I also didn't want to rigidly start moving toward what that character is," he says. "I wanted every scene, every reaction to be something that was new to Mekai and also new to Kanan."

As the series reaches its end, Mekai says there isn't a single moment that transforms Kanan into the man viewers met in Power. Instead, he says fans see his evolution throughout the entire show.

"I think that was the story of why Raising Kanan is a thing, is we all as people have events that we can remember that shaped how we present or move ourselves throughout the world, but it's a culmination of all of those things ... that make you who you are." 

Copyright © 2026, ABC Audio. All rights reserved.

Missing man’s remains found

Missing man’s remains foundGREGG COUNTY– The Gregg County Sheriff’s Office has used DNA to identify the remains of Mitchell Walters who went missing in 2025, according to the sheriff’s office and our news partner KETK. After the skull was found in September 2025 in Liberty City, investigators collected the remains and submitted them to the University of North Texas Center for Human Identification in Dallas for forensic analysis.

A DNA profile was successfully developed from the remains in March, and the profile was entered into the Combined DNA Index System to determine the identity of the deceased. Continue reading Missing man’s remains found

Standoff escalates after shots fired; suspect now in custody

LUFKIN — A man is in custody after a shots-fired call escalated into an hours-long standoff at a home in the 500 block of Hemlock Street, according to Lufkin police. A’Mario Gerbrekidan, 34, is charged with possession of body armor by a felon, felony possession of a controlled substance, possession of controlled substance, and an illegal weapon offense, according Police Chief Travis Brazil.

The serial number had been removed from the weapon, police said. Officers responded to the call at 5:30 a.m. Thursday to a report of shots fired. When officers heard a gunshot, that is when Gerbrekidan barricaded himself in the home. Lufkin SWAT team was called to assist, and began negotiations.

“Extensive negotiations were attempted, but were unsuccessful,” Brazil said.

Several gas canisters were deployed into the home, after several hours of failed negotiations. Gerbrekidan finally exited the residence, and surrendered without injury to himself or law enforcement, according to police. The SWAT team was assisted by the Angelina County Sheriff’s Office, Texas Highway Patrol, and Texas Rangers.

“The Lufkin Police Department took this situation slow and methodical,” Brazil said. “Every step in these situations has to be well thought through to ensure the safety of citizens, officers and the suspects.

“Loss of life is never the answer, and we want to avoid that outcome if at all possible,” he said. “The officers of the Lufkin Police Department train for these situations, and it definitely paid off today.”

Security for UFC fights at White House will be at Super Bowl level, Secret Service says

United States Secret Service Special Agent in Charge of the Washington, DC Field Office Tara McLeese speaks with ABC News Chief Justice Correspondent Pierre Thomas at D.C. Homeland Security and Emergency Management Headquarters in Washington, DC. (ABC News)

(WASHINGTON) -- As UFC fans descend on Washington, D.C., for Freedom 250 on Sunday and events surrounding it Friday and Saturday, security will also be strict, according to the top Secret Service agent for D.C.

UFC Freedom 250 has been designated a Special Event Assessment Review 1 event, like the Super Bowl, Indianapolis 500, Kentucky Derby and college football games, according to the Department of Homeland Security.

Entrance to the South Lawn of the White House, where the UFC Octagon has been erected, is invitation-only for some 4,000 guests. The larger crowd will be watching on The Ellipse, outside the White House grounds.

The UFC Fan Fest and Watch Party on the Ellipse is free, but tickets are required and fans will have to pass through TSA-like screening, according to Tara McLeese, special agent in charge of the Secret Service's Washington Field Office.

"Come early, don't bring large bags, TSA-like security screening," McLeese told ABC News.

Federal law prohibits flying drones in the airspace over the National Capital Region, so McLeese's advice for fans is to "leave their drones at home."

"We will have law enforcement drones for overwatch, but just to make it simple for the public, if they see a drone, we want them to report that," she said.

The fight on the South Lawn and viewing on The Ellipse kick off a summer of events in the nation's capital, many celebrating America's 250th birthday.

"The public safety team here in the Washington, D.C., area is second to none. We have a lot of big events in D.C., and it's very much a collaborative effort, a team effort here in D.C.," McLeese said. The Secret Service is partnering with U.S. Park Police for security.

For the first time, the annual 4th of July fireworks display on the National Mall will be designated a National Special Security Event, with security levels on par with presidential inaugurations. The event is something Secret Service is also "very focused on," McLeese said, adding that people attending the celebration will also have to pass through TSA-like screening.

In years past "you could just walk up and put a lawn chair and a blanket out. That will be different this year," she said. "You won't be able to just show up. There will be specific places, designated places to go through security before you can get on the Mall."

The Secret Service uniformed division and agents have been involved in three shootings in the past two months -- the first at the White House Correspondents' Dinner when a gunman allegedly attempted to get through the screening area with a firearm, the second in which a man allegedly fired on a unformed officer near the Washington Monument and then days later a man allegedly opened fire on uniformed officers over Memorial Day weekend.

"I can tell you that our workforce is training every day, that we are hyper-focused on ensuring that we are ready to respond to any type of threat or attack that comes our way," McLeese said.

Copyright © 2026, ABC Audio. All rights reserved.

Paul Anthony Kelly to join Sydney Sweeney in ‘The Housemaid’s Secret’

Paul Anthony Kelly at the Disney Upfront on May 12, 2026. (Disney/David Russell)

Paul Anthony Kelly is making the leap from romantic drama to psychological thriller.

The actor, known for playing John F. Kennedy Jr. in the hit FX series Love Story, will star in The Housemaid's Secret, Lionsgate announced Thursday.

The upcoming film is a sequel to The Housemaid, which was released in 2025.

Kelly will star as Douglas in the sequel alongside Sydney Sweeney, who reprises her role as Millie. Michele Morrone, who also starred in The Housemaid, will reprise his role as Enzo, according to Lionsgate.

Kirsten Dunst will also star in the film, with Paul Feig returning to direct the project.

According to a synopsis from Lionsgate, The Housemaid's Secret will see Millie "taking a job keeping house for a woman she's never allowed to see — only to discover the truth behind the locked door that threatens to expose secrets far darker than her own."

The Housemaid and The Housemaid's Secret are based on the New York Times bestselling novels of the same name by Freida McFadden.

McFadden's most recent Housemaid novel, The Housemaid Is Watching, was published in June 2024.

Lionsgate added in a press release that while The Housemaid's Secret enters production later this year, "the studio anticipates adapting even more of McFadden's beloved thrillers from the world of The Housemaid in the years ahead."

Kelly was also recently announced as the newest cast member for the 13th installment of American Horror Story, premiering later this fall on FX and Hulu.

The Housemaid's Secret will be released on Dec. 17, 2027.

The Walt Disney Co. is the parent company of FX, ABC News and Good Morning America.

Copyright © 2026, ABC Audio. All rights reserved.

‘Off Campus’ calls out ‘targeted harassment’ on social media

Ella Bright and Belmont Cameli in 'Off Campus.' (Liane Hentscher/Prime)

The Off Campus team is calling out fans’ unsportsmanlike behavior.

Prime Video’s popular college hockey romance series posted a message to social media Thursday imploring fans to be kind.

“The Off Campus community is built on a shared love of storytelling – and on respect for the real people who bring it to life,” read the message. “We ask that everyone in this space extend that respect to our cast and the people in their lives.”

It added, “Accounts that engage in targeted harassment will be removed from following our accounts.”

Prime Video had to issue similar notices for The Summer I Turned Pretty after some comments turned toxic. "PSA for the Summer community," the show's official social accounts shared last year before the third and final season aired. "Cousins is our safe place. Everything good, everything magical. Let's keep the conversation kind this summer."

More recently, the streaming service issued a plea to fans to stop sharing locations and visiting the set for the upcoming The Summer I Turned Pretty movie.

Copyright © 2026, ABC Audio. All rights reserved.

Karmelo Anthony files notice of appeal of murder conviction

COLLIN COUNTY (ABC NEWS) – Karmelo Anthony, who was sentenced to 35 years in prison for the fatal stabbing of Austin Metcalf, filed a notice of appeal on Wednesday. In a one-page document filed with the court in Collin County, Texas, Anthony said he could not afford an attorney for the appeal and asked the court to appoint one.

The Texas Department of Criminal Justice also released a new photo of Anthony, 19, in which he’s seen sporting a shaven head and wearing a sleeveless tunic.

He was transferred to the Wallace Pack Unit, a prison near Navasota, just outside of Houston, according to Texas officials, where he will begin his 35-year imprisonment sentence, as he is now in state custody.

Anthony was found guilty of murder over the fatal stabbing of Metcalf, another teen, at a high school track meet last year.

The deadly stabbing occurred at a Frisco Independent School District stadium on April 2, 2025, during a track and field competition involving multiple schools in the district.

Police said Metcalf, an 11th grader at Frisco Memorial High School, was stabbed during an altercation under his school’s tent in the stadium bleachers.

Witnesses told officers that the two got into an argument over Anthony, a then-17-year-old student at Frisco Centennial High School, being under Metcalf’s school tent during the rainy track meet, according to the arrest report.

Multiple current and former students recounted the incident during the trial. One witness testified that Anthony was asked to leave the tent about 15 times. Some witnesses recalled Anthony saying, “Touch me and see what happens,” during the altercation. Another witness quoted Metcalf as telling Anthony, “I’m not going to fight you.”

Witnesses recounted that Metcalf shoved or nudged Anthony, who was sitting on the bleachers, before Anthony stabbed him with a pocket knife. The blade perforated Metcalf’s right ventricle, and he was pronounced dead after being transported to an area hospital.

Prosecutors called the stabbing “senseless” and “plain and simple murder,” while the defense argued that Anthony acted in self-defense.

The jury began deliberating midday Tuesday before reaching the guilty murder verdict in three hours, according to a court spokesperson. The jurors also could have considered manslaughter, which carries a sentence of up to 20 years.

The same jury reached a decision on the sentence after several more hours of deliberation on Tuesday.

It’s time to bring the business in Iran to an end.

A person sits in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, June 8, 2026. (Amirhosein Khorgooi/ISNA via AP)

Something has to give in Iran. I believe that it was President Trump himself who said we are being “tapped along” by whomever it is who is calling the shots in that beleaguered country.

Tapping the west along is a well-worn tactic for the criminal theocrats who run Iran. They have been doing it for nearly half a century. Tapping the Obama administration along got them an airlift of pallets of euros and Swiss francs to the tune of the equivalent of about $400 million courtesy of the United States Air Force. Part of that deal was that Iran would curtail its enrichment of uranium. They did no such thing.

So, we can’t be tapped along. This thing needs to come to an acceptable conclusion.

Iran wasn’t always the theocratically-controlled despotic hellhole that it is now. Throughout history Iran was known as Persia. It was only in 1935 that Reza Shah Pahlavi, then the country’s ruler (and the father of the Shah of Iran that we all remember from 1979), asked governments around the world to start calling the country Iran.

Unlike the dark, totalitarian misery that is today’s Iran, Persia was an enlightened, accomplished society. We can credit Persia with modern algebra and the word, “algorithm.” Ancient Persia was the home of astronomer, mathematician and poet Omar Khayyam (“A Jug of Wine, a Loaf of Bread – and Thou”).

Perhaps as much as any society, it was Persia that showed the world how to govern a large, diverse civilization through administration, infrastructure, tolerance, and cultural sophistication rather than through oppressive coercion.

All to say that the 90 million people who live in Iran today are the heirs of a rich, vibrant culture that has been suppressed by the theocratic thugs who took over the country in 1979.

President Trump is therefore reluctant to reduce the country to a pile of smoking rubble, though he can easily do so. Reducing Iran to the levels of devastation visited upon Europe in World War II would certainly neutralize the threat that Iran has posed to the civilized world for nearly 50 years. But it would simultaneously impoverish the Iranian people for a generation or more and perhaps create the circumstance for the rise of a regime that’s even worse than the one we have now.

But it may come to that whether we and President Trump like it or not. For the sake of the developed world on the macro level, and for the sake of our own domestic politics on the micro level, we must bring the business in Iran to an end.

The threat it has posed for nearly a half century must be decisively neutralized and the Strait of Hormuz must be open to the free passage of maritime commerce. Prior administrations going back to Jimmy Carter have been “tapped along” by Iran. But we can be tapped along no longer.

A decisive outcome in Iran may come at a horrendously painful price. But whatever the price, it must be paid.

And right soon.