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Vivek Malek
48th Treasurer of Missouri
Incumbent
Assumed office January 17, 2023
Governor	Mike Parson Mike Kehoe (elect)
Preceded by	Scott Fitzpatrick
Personal details
Born	1977 (age 47–48) Rohtak, India
Political party	Republican
Spouse	Riju
Children	3
Education	Maharshi Dayanand University (BA, LLB) Southeast Missouri State University (MBA) University of Illinois, Urbana-Champaign (LLM)

Vivek Malek (born 1977) is an American attorney, businessman, and politician who is the State Treasurer of Missouri, following his appointment to the position by Missouri Governor Mike Parson. He is a member of the Republican Party.

Early life and education

Malek was born and raised in India. 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.

Career

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.

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.

State Treasurer of Missouri

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

Unclaimed property

As treasurer, Malek increased efforts to return unclaimed property, returning more than previous treasurers. 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.

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.

MOBUCK$

Malek has pushed legislators to expand the capacity of the MOBUCK$ low interest loan program, which closed 2023 applications early due to high demand. 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. 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.

China divestment

In 2023, Malek proposed divesting state pension funds from investments in China, citing COVID-19, the 2023 Chinese balloon incident, Chinese suppliers of Fentanyl, and foreign relations. Initially, the proposal was rejected by the MOSER board, 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.

2024 Campaign

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

Personal life

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

Electoral history

State treasurer

References

1. ^ 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. ^ 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. ^ 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.
4. ^ 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.
5. "Missouri State Treasurer breaks record for returned unclaimed property". KTTN. Retrieved December 28, 2024.
6. 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.
7. Lubinski, Amanda (2023-12-14). "State treasurer urges MOBUCK$ program expansion". Courier-Tribune. Retrieved 2024-04-01.
8. "Governor Parson Signs HB 1803 into Law, Expanding MOBUCK$ Program". State of Missouri. Retrieved December 31, 2024.
9. Dereuck, Kelly (2024-04-23). "Low-interest loan program for Missouri small businesses, farms expanded by legislature". Springfield News Leader. Retrieved 2024-12-31.
10. Keller, Rudi (2023-11-20). "Missouri pension board rejects push by Vivek Malek for China divestment • Missouri Independent". Missouri Independent. Retrieved 2024-04-01.
11. Keller, Rudi (2023-12-12). "State board votes to divest Missouri employee pension fund from China • Missouri Independent". Missouri Independent. Retrieved 2024-04-01.
12. Hanshaw, Annelise (2024-08-06). "Vivek Malek wins Republican nomination for Missouri Treasurer". Missouri Independent. Retrieved 2024-08-09.
13. "Election Results" (PDF). Missouri Secretary of State. Retrieved December 27, 2024.
14. "All Results State of Missouri – State of Missouri – General Election, November 5, 2024". Missouri Secretary of State. Retrieved December 27, 2024.

v t e Statewide political officials of Missouri
U.S. senators	Josh Hawley Eric Schmitt
State government	Mike Parson, Governor Mike Kehoe, Lieutenant Governor Jay Ashcroft, Secretary of State Andrew Bailey, Attorney General Vivek Malek, Treasurer Scott Fitzpatrick, Auditor
Senate	Mike Kehoe, President Caleb Rowden, President pro tempore Cindy O'Laughlin, Majority Leader Doug Beck, Minority Leader
House	Dean Plocher, Speaker Mike Henderson, Speaker pro tempore Jonathan Patterson, Majority Leader Crystal Quade, Minority Leader
Supreme Court	Mary Russell, Chief Justice Zel Fischer Paul C. Wilson W. Brent Powell Robin Ransom Kelly C. Broniec Ginger Gooch

v t e Treasurers of Missouri
Didier Simonds Earickson Walker McClellan Glover Morrison Bingham Bishop Dallmeyer Hays Salmon Mercer Gates Chappell Seibert Noland L. Stephens Pitts Williams Gmelich Cowgill Deal Middelkamp Thompson C. Stephens Brunk Nacy Winn Bell Winn Nacy Morris Bates Morris Carpenter Morris Robinson Spainhower Carnahan Bailey Holden Farmer Steelman Zweifel Schmitt Fitzpatrick Malek

• 1977 births
• American politicians of Indian descent
• Asian-American people in Missouri politics
• Indian emigrants to the United States
• Living people
• Maharshi Dayanand University alumni
• Politicians from St. Louis County, Missouri
• Southeast Missouri State University alumni
• State treasurers of Missouri
• University of Illinois College of Law alumni
• 21st-century Missouri politicians
• Asian conservatism in the United States