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Vivek Malek

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Vivek Malek
48th Treasurer of Missouri
Incumbent
Assumed office
January 17, 2023
GovernorMike Parson
Mike Kehoe
Preceded byScott Fitzpatrick
Personal details
Born1977 (age 47–48)
Rohtak, India
Political partyRepublican
SpouseRiju
Children3
EducationMaharshi Dayanand University (BA, LLB)
Southeast Missouri State University (MBA)
University of Illinois, Urbana-Champaign (LLM)

Vivek Malek (born 1977)[1][2] is an American attorney, businessman, and politician who is the State Treasurer of Missouri. He was elected to a full term in 2024 by winning landslide victories in both the primary and general elections.[3][4] He is a member of the Republican Party and the first person of color to win state office in Missouri history.[5] He was appointed Treasurer by Missouri Governor Mike Parson[1] in 2022, following the resignation of Scott Fitzpatrick.

Early life and education

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Malek was born and raised in India.[6] He graduated from Maharshi Dayanand University with a Bachelor of Arts degree and a Bachelor of Law, and went on to receive a Master of Business Administration from Southeast Missouri State University and a Master of Laws from the University of Illinois College of Law.[2]

Career

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Malek began practicing law in Missouri in 2006. In 2011, he established his law firm, Law Offices of Vivek Malek, with a focus on immigration law. The Missouri House of Representatives and Senate recognized "his service and contributions to Missouri communities" in 2007 and 2015, respectively, and the St. Louis Business Journal awarded him their Minority Business Leader Award in 2010. He also appeared on Business Today's list of "30 under 30." In 2020, Governor Mike Parson appointed him to the board of governors of his alma mater, Southeast Missouri State University.[2]

Prior to his appointment as treasurer, Malek worked in real estate with Nathan Cooper, whose law firm he'd previously worked for. Cooper became notorious in St. Louis for unmaintained rental properties. Malek describes his involvement as both a family enterprise and passive investment, claiming he was not aware of unaddressed tenant complaints.[7]

State Treasurer of Missouri

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On December 20, 2022, Parson appointed Malek Treasurer of Missouri, following Scott Fitzpatrick's election as State Auditor.[2] He became the first person of color to hold statewide office in Missouri. He successfully sought reelection to a full term in 2024.[6]

Unclaimed property

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As treasurer, Malek increased efforts to return unclaimed property, returning more than previous treasurers.[8] For instance, in fiscal year 2023, Malek facilitated the return of $51,817,543.80 in unclaimed property, surpassing the previous record of $50.2 million set in the prior fiscal year. Additionally, the record for the number of accounts returned was exceeded, with 255,627 accounts returned compared to 233,769 in fiscal year 2022. Treasurer Malek emphasized the ongoing efforts to return unclaimed funds to citizens and encouraged individuals to check for unclaimed property through the Missouri State Treasurer’s website. As of the latest reporting, the Treasurer’s office holds approximately $1.39 billion in unclaimed property. [9]

He drew bipartisan criticism from making a deal with Torch Electronics, a company in an ongoing legal battle with the state and represented by Steven Tilley, to advertise the unclaimed property program on their machines. Malek removed the advertisements following a committee hearing on the issue.[10]

MOBUCK$

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Malek has pushed legislators to expand the capacity of the MOBUCK$ low interest loan program, which closed 2023 applications early due to high demand.[7][11] When the program opened with $119 million in available funds on January 2, all funds were allocated within six hours, reflecting the high interest from applicants facing rising interest rates.

Malek has championed the program's expansion, and House Bill 1803 was passed in 2024 to increase MOBUCK$ funding from $800 million to $1.2 billion.[12] Malek emphasized that the program acts as a buffer against inflation, allowing businesses to grow and contribute to Missouri’s economy.

Since Malek’s appointment in January 2023, the treasurer’s office has processed $651.2 million in linked deposits, benefiting 147 borrowers, including 97 small businesses and 39 agri-businesses. The program's popularity highlights the need for increased funding, with the expansion expected to further support economic development without additional cost to the state. [13]

Opposition to DEI

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Malek has consistently advocated for merit-based hiring and academic rigor over ideological initiatives like Diversity, Equity, and Inclusion (DEI) programs. Malek has expressed concerns that DEI programs, such as those previously seen at the University of Missouri (Mizzou), often prioritize equality of outcomes over equality of opportunity, fostering division rather than true diversity. Citing instances where DEI requirements influenced hiring decisions, he has criticized the use of inclusion and equity statements that favored political activism over academic and teaching excellence. Applauding the University of Missouri System's decision to eliminate diversity statements in hiring, Malek believes that that taxpayer-funded institutions should prioritize academic excellence and intellectual inclusivity over divisive ideologies. [14]

Concern about Illegal Immigration

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Malek was a vocal critic of the Biden administration’s immigration policies, which he described as a "disastrous open-border policy" that jeopardized America’s security, public health, and state finances. Malek has criticized the strain illegal immigration places on state and local governments, particularly in handling issues like the fentanyl crisis and increased criminal activity. He considered Biden's removal of Title 42 limits and the surge in illegal border crossings an insult to legal immigrants who adhere to the law and a threat to the integrity of the American Dream. Malek advocates for reversing these policies, emphasizing the need to protect taxpayer resources, uphold public safety, and preserve the value of legal immigration. [15]

China divestment

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In 2023, Malek proposed divesting state pension funds from investments in China, citing economic risks, geopolitical instability, poor investment performance, human rights concerns, and the need to ensure the best return for Missouri state employees' pensions.[16] Initially, the proposal was rejected by the MOSER board,[17] but passed in a special meeting requested by Mike Parson. Opponents criticized the proposal as politically motivated related to Malek's campaign, and the request by Parson as interference.[18]

2024 Campaign

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Malek successfully sought reelection to a full term in 2024, and won the Republican nomination against several challengers in August.[19][20]

Personal life

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Malek resides in Wildwood, Missouri, with his wife, Riju, and their three children.[2]

Electoral history

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State treasurer

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Missouri Treasurer primary election, August 6, 2024[21]
Party Candidate Votes % ±%
Republican Vivek Malek (incumbent) 273,930 41.5
Republican Andrew Koenig 135,828 20.6
Republican Lori Rook 127,970 19.4
Republican Cody Smith 97,029 14.7
Republican Tina Goodrick 19,115 2.9
Missouri Treasurer general election, November 5, 2024[22]
Party Candidate Votes % ±%
Republican Vivek Malek (incumbent) 1,684,714 57.931 −1.17
Democratic Mark Osmack 1,106,236 38.039 −0.06
Libertarian John A. Hartwig, Jr. 81,443 2.801 0.60
Green Reagan Haase 35,745 0.63
Total votes 2,908,138 100.00%
Republican hold


References

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  1. ^ a b Erickson, Kurt (January 6, 2023). "Parson's Pick for State Treasurer Delays Swearing in to Skirt Term Limits". St. Louis Post-Dispatch. Retrieved January 9, 2023.
  2. ^ a b c d e KY3 Staff (December 20, 2022). "Missouri Gov. Parson selects next state treasurer". KYTV. Retrieved December 21, 2022.{{cite web}}: CS1 maint: numeric names: authors list (link)
  3. ^ "Election Results" (PDF). Missouri Secretary of State. Retrieved December 27, 2024.
  4. ^ "All Results State of Missouri – State of Missouri – General Election, November 5, 2024". Missouri Secretary of State. Retrieved December 27, 2024.
  5. ^ Wallington, Natalie (November 6, 2024). "The Kansas City area election results you might have missed". Kansas City Star. Retrieved January 20, 2025.{{cite web}}: CS1 maint: url-status (link)
  6. ^ a b Kellogg, Sarah (December 21, 2022). "New Missouri Treasurer Vivek Malek will be first person of color to hold statewide office". KCUR-FM. Retrieved December 21, 2022.
  7. ^ a b Barker, Jacob (2024-03-31). "Missouri's treasurer owned rundown St. Louis properties, had ties to a 'problem' landlord". St. Louis Post-Dispatch. Retrieved 2024-04-01.
  8. ^ Hanshaw, Annelise (2024-08-06). "Vivek Malek wins Republican nomination for Missouri Treasurer". Missouri Independent. Retrieved 2024-08-09.
  9. ^ "Missouri State Treasurer breaks record for returned unclaimed property". KTTN. Retrieved December 28, 2024.
  10. ^ Keller, Rudi (2024-02-27). "Missouri state treasurer removes ads on unregulated slot machines after grilling by lawmakers • Missouri Independent". Missouri Independent. Retrieved 2024-04-01.
  11. ^ Lubinski, Amanda (2023-12-14). "State treasurer urges MOBUCK$ program expansion". Courier-Tribune. Retrieved 2024-04-01.
  12. ^ "Governor Parson Signs HB 1803 into Law, Expanding MOBUCK$ Program". State of Missouri. Retrieved December 31, 2024.
  13. ^ Dereuck, Kelly (2024-04-23). "Low-interest loan program for Missouri small businesses, farms expanded by legislature". Springfield News Leader. Retrieved 2024-12-31.
  14. ^ Malek, Vivek (2023-04-19). "Vivek Malek: Missouri DEI reforms will cut waste, promote academic freedom on campus • Columbia Missourian". Columbia Missourian. Retrieved 2025-01-22.
  15. ^ Malek, Vivek (2023-05-20). "Vivek Malek: Failure to control illegal immigration exposes states to soaring costs • Joplin Globe". Joplin Globe. Retrieved 2025-01-22.
  16. ^ Malek, Vivek (2023-11-29). "Legislature should oppose pension investments in China • Columbia Missourian". Columbia Missourian. Retrieved 2025-01-11.
  17. ^ Keller, Rudi (2023-11-20). "Missouri pension board rejects push by Vivek Malek for China divestment • Missouri Independent". Missouri Independent. Retrieved 2024-04-01.
  18. ^ Keller, Rudi (2023-12-12). "State board votes to divest Missouri employee pension fund from China • Missouri Independent". Missouri Independent. Retrieved 2024-04-01.
  19. ^ Hanshaw, Annelise (2024-08-06). "Vivek Malek wins Republican nomination for Missouri Treasurer". Missouri Independent. Retrieved 2024-08-09.
  20. ^ "All Results State of Missouri – State of Missouri – General Election, November 5, 2024". Missouri Secretary of State. Retrieved December 27, 2024.
  21. ^ "Election Results" (PDF). Missouri Secretary of State. Retrieved December 27, 2024.
  22. ^ "All Results State of Missouri – State of Missouri – General Election, November 5, 2024". Missouri Secretary of State. Retrieved December 27, 2024.
Party political offices
Preceded by Republican nominee for State Treasurer of Missouri
2024 		Most recent
Political offices
Preceded by Treasurer of Missouri
2023–present 		Incumbent
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