This escalated into the hostage crisis of 1979 to 1981 that, along with America’s economic woes, cost Carter his bid for reelection in 1980. The Pahlavi dynasty effectively died with Mohammad Rezā on July 27, 1980; he was buried with state honors in Egypt. His son, Rezā Pahlavi II (b. 1960), still styles himself as a political leader in exile (not surprisingly, he lives in the United States) and is the head of the Constitutionalist Party of homeland.