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|image = MO Treasurers - 48 Vivek Malek (2023-) (53220004803).jpg |image = MO Treasurers - 48 Vivek Malek (2023-) (53220004803).jpg
|office = 48th ] |office = 48th ]
|governor = ] |governor = ]<br>] (elect)
|term_start = January 17, 2023 |term_start = January 17, 2023
|term_end = |term_end =
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|successor = |successor =
|birth_date = {{birth year and age|1977}} |birth_date = {{birth year and age|1977}}
|birth_place = ] |birth_place = ], ]
|death_date = |death_date =
|death_place = |death_place =
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|education = ] (], ])<br>] (])<br>] (]) |education = ] (], ])<br>] (])<br>] (])
}} }}
'''Vivek Malek''' (born 1977)<ref name="Swearing-in Date"/><ref name="Malek Appointed">{{cite web|author=KY3 Staff|url=https://www.ky3.com/2022/12/20/missouri-gov-parson-selects-next-state-treasurer/|title=Missouri Gov. Parson selects next state treasurer|work=]|date=December 20, 2022|accessdate=December 21, 2022}}</ref> is an Indian-born American attorney, businessman, and politician who is the ], following his appointment to the position by Governor ].<ref name="Swearing-in Date">{{cite web |last=Erickson |first=Kurt |url=https://www.stltoday.com/news/local/govt-and-politics/parson-s-pick-for-state-treasurer-delays-swearing-in-to-skirt-term-limits/article_95df5e13-7d48-5ae2-8d2e-b1276cecd068.html |title=Parson’s Pick for State Treasurer Delays Swearing in to Skirt Term Limits |work=] |date=January 6, 2023 |accessdate=January 9, 2023}}</ref> He is a member of the ]. '''Vivek Malek''' (born 1977)<ref name="Swearing-in Date"/><ref name="Malek Appointed">{{cite web|author=KY3 Staff|url=https://www.ky3.com/2022/12/20/missouri-gov-parson-selects-next-state-treasurer/|title=Missouri Gov. Parson selects next state treasurer|work=]|date=December 20, 2022|accessdate=December 21, 2022}}</ref> is an American attorney, businessman, and politician who is the ], following his appointment to the position by ] ].<ref name="Swearing-in Date">{{cite web |last=Erickson |first=Kurt |url=https://www.stltoday.com/news/local/govt-and-politics/parson-s-pick-for-state-treasurer-delays-swearing-in-to-skirt-term-limits/article_95df5e13-7d48-5ae2-8d2e-b1276cecd068.html |title=Parson's Pick for State Treasurer Delays Swearing in to Skirt Term Limits |work=] |date=January 6, 2023 |accessdate=January 9, 2023}}</ref> He is a member of the ].


==Early life and education== ==Early life and education==
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==Career== ==Career==
Malek began practicing law in Missouri in 2006. In 2011, he established his ], Law Offices of Vivek Malek, with a focus on ]. The ] and ] recognized "his service and contributions to Missouri communities" in 2007 and 2015, respectively, and the '']'' awarded him their Minority Business Leader Award in 2010. He also appeared on '']'''s list of "30 under 30." In 2020, ] ] appointed him to the board of governors of his alma mater, Southeast Missouri State University.<ref name="Malek Appointed"/> Malek began practicing law in Missouri in 2006. In 2011, he established his ], Law Offices of Vivek Malek, with a focus on ]. The ] and ] recognized "his service and contributions to Missouri communities" in 2007 and 2015, respectively, and the '']'' awarded him their Minority Business Leader Award in 2010. He also appeared on '']'''s list of "30 under 30." In 2020, Governor ] appointed him to the board of governors of his alma mater, Southeast Missouri State University.<ref name="Malek Appointed"/>


Prior to his appointment as treasurer, Malek worked in real estate with ], whose law firm he'd previously worked for. Cooper became notorious in ] 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.<ref name=":0">{{Cite web |last=Barker |first=Jacob |date=2024-03-31 |title=Missouri’s treasurer owned rundown St. Louis properties, had ties to a ‘problem’ landlord |url=https://www.stltoday.com/news/local/government-politics/missouri-s-treasurer-owned-rundown-st-louis-properties-had-ties-to-a-problem-landlord/article_0305eee8-e6d5-11ee-83b2-dbe169418fd4.html |access-date=2024-04-01 |website=St. Louis Post-Dispatch |language=en}}</ref> Prior to his appointment as treasurer, Malek worked in real estate with ], whose law firm he'd previously worked for. Cooper became notorious in ] 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.<ref name=":0">{{Cite web |last=Barker |first=Jacob |date=2024-03-31 |title=Missouri's treasurer owned rundown St. Louis properties, had ties to a 'problem' landlord |url=https://www.stltoday.com/news/local/government-politics/missouri-s-treasurer-owned-rundown-st-louis-properties-had-ties-to-a-problem-landlord/article_0305eee8-e6d5-11ee-83b2-dbe169418fd4.html |access-date=2024-04-01 |website=St. Louis Post-Dispatch |language=en}}</ref>


=== State Treasurer of Missouri === === State Treasurer of Missouri ===
On December 20, 2022, Parson appointed Malek ], following ]'s election as ].<ref name="Malek Appointed"/> He became the first ] to hold statewide office in Missouri. He has stated his intention to run for a full term in 2024.<ref name="Malek Appointed 2"/> On December 20, 2022, Parson appointed Malek ], following ]'s election as ].<ref name="Malek Appointed"/> He became the first ] to hold statewide office in Missouri. He successfully sought reelection to a full term in ].<ref name="Malek Appointed 2"/>


=== Unclaimed property ===
As treasurer, Malek increased efforts to return unclaimed property, returning more than previous treasurers.<ref name=":0" /> He drew bipartisan criticism from making a deal with Torch Electronics, a company in an ongoing legal battle with the state and represented by ], to advertise the unclaimed property program on their machines. Malek removed the advertisements following a committee hearing on the issue.<ref>{{Cite web |last=Keller |first=Rudi |date=2024-02-27 |title=Missouri state treasurer removes ads on unregulated slot machines after grilling by lawmakers • Missouri Independent |url=https://missouriindependent.com/2024/02/27/lawmakers-grill-missouri-state-treasurer-over-ads-on-unregulated-slot-machines/ |access-date=2024-04-01 |website=Missouri Independent |language=en-US}}</ref>


As treasurer, Malek increased efforts to return unclaimed property, returning more than previous treasurers.<ref name=":0" /> 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 $1.39 billion in unclaimed property. <ref>{{cite web|title=Missouri State Treasurer breaks record for returned unclaimed property|url=https://www.kttn.com/missouri-state-treasurer-breaks-record-for-returned-unclaimed-property/|publisher=KTTN|access-date=December 28, 2024}}</ref>
Malek has pushed legislators to expand the capacity of the MOBUCK$ low interest loan program, which closed 2023 applications early due to high demand.<ref name=":0" /><ref>{{Cite web |last=Lubinski |first=Amanda |date=2023-12-14 |title=State treasurer urges MOBUCK$ program expansion |url=https://www.mycouriertribune.com/news/business/state-treasurer-urges-mobuck-program-expansion/article_1b06b77a-4b1c-5f1d-97db-493768d77a69.html |access-date=2024-04-01 |website=Courier-Tribune |language=en}}</ref>


In 2023, Malek proposed divesting state pension funds from investments in China, citing ], the ], Chinese suppliers of ], and foreign relations. Initially, the proposal was rejected by the MOSER board,<ref>{{Cite web |last=Keller |first=Rudi |date=2023-11-20 |title=Missouri pension board rejects push by Vivek Malek for China divestment • Missouri Independent |url=https://missouriindependent.com/2023/11/20/missouri-pension-board-rejects-push-by-vivek-malek-for-china-divestment/ |access-date=2024-04-01 |website=Missouri Independent |language=en-US}}</ref> but passed in a special meeting requested by ]. Opponents criticized the proposal as politically motivated related to Malek's campaign, and the request by Parson as interference.<ref>{{Cite web |last=Keller |first=Rudi |date=2023-12-12 |title=State board votes to divest Missouri employee pension fund from China • Missouri Independent |url=https://missouriindependent.com/2023/12/12/state-board-votes-to-divest-missouri-pension-fund-from-china/ |access-date=2024-04-01 |website=Missouri Independent |language=en-US}}</ref> He drew bipartisan criticism from making a deal with Torch Electronics, a company in an ongoing legal battle with the state and represented by ], to advertise the unclaimed property program on their machines. Malek removed the advertisements following a committee hearing on the issue.<ref>{{Cite web |last=Keller |first=Rudi |date=2024-02-27 |title=Missouri state treasurer removes ads on unregulated slot machines after grilling by lawmakers • Missouri Independent |url=https://missouriindependent.com/2024/02/27/lawmakers-grill-missouri-state-treasurer-over-ads-on-unregulated-slot-machines/ |access-date=2024-04-01 |website=Missouri Independent |language=en-US}}</ref>

=== 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.<ref name=":0" /><ref>{{Cite web |last=Lubinski |first=Amanda |date=2023-12-14 |title=State treasurer urges MOBUCK$ program expansion |url=https://www.mycouriertribune.com/news/business/state-treasurer-urges-mobuck-program-expansion/article_1b06b77a-4b1c-5f1d-97db-493768d77a69.html |access-date=2024-04-01 |website=Courier-Tribune |language=en}}</ref> 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 $1.2 billion.<ref>{{cite web|title=Governor Parson Signs HB 1803 into Law, Expanding MOBUCK$ Program|url=https://governor.mo.gov/press-releases/archive/governor-parson-signs-hb-1803-law-expanding-mobuck-program|publisher=State of Missouri|access-date=December 31, 2024}}</ref> 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. <ref>{{Cite web |last=Dereuck |first=Kelly |date=2024-04-23 |title=Low-interest loan program for Missouri small businesses, farms expanded by legislature |url=https://www.news-leader.com/story/news/politics/2024/04/23/lawmakers-approve-bill-to-expand-mobuck-low-interest-loan-program/73419441007/|access-date=2024-12-31 |website=Springfield News Leader |language=en}}</ref>

=== China divestment ===

In 2023, Malek proposed divesting state pension funds from investments in China, citing ], the ], Chinese suppliers of ], and foreign relations. Initially, the proposal was rejected by the MOSER board,<ref>{{Cite web |last=Keller |first=Rudi |date=2023-11-20 |title=Missouri pension board rejects push by Vivek Malek for China divestment • Missouri Independent |url=https://missouriindependent.com/2023/11/20/missouri-pension-board-rejects-push-by-vivek-malek-for-china-divestment/ |access-date=2024-04-01 |website=Missouri Independent |language=en-US}}</ref> but passed in a special meeting requested by ]. Opponents criticized the proposal as politically motivated related to Malek's campaign, and the request by Parson as interference.<ref>{{Cite news |last=Keller |first=Rudi |date=2023-12-12 |title=State board votes to divest Missouri employee pension fund from China • Missouri Independent |url=https://missouriindependent.com/2023/12/12/state-board-votes-to-divest-missouri-pension-fund-from-china/ |access-date=2024-04-01 |newspaper=Missouri Independent |language=en-US}}</ref>

=== 2024 Campaign ===

Malek successfully sought reelection to a full term in ], and won the Republican nomination against several challengers in August.<ref>{{cite news |url=https://missouriindependent.com/2024/08/06/vivek-malek-wins-republican-nomination-for-missouri-treasurer/ |title=Vivek Malek wins Republican nomination for Missouri Treasurer |date=2024-08-06 |newspaper=Missouri Independent |first=Annelise |last=Hanshaw |access-date=2024-08-09}}</ref>


==Personal life== ==Personal life==
Malek resides in ], with his wife, Riju, and their three children.<ref name="Malek Appointed"/> Malek resides in ], with his wife, Riju, and their three children.<ref name="Malek Appointed"/>

==Electoral history==
===State treasurer===
{{Election box begin|title=Missouri Treasurer primary election, August 6, 2024<ref>{{cite web|url=https://www.sos.mo.gov/CMSImages/ElectionResultsStatistics/2024PrimaryElection.pdf |title=Election Results|publisher=]|access-date=December 27, 2024}}</ref>}}
{{Election box winning candidate with party link|
|party = Republican Party (United States)
|candidate = Vivek Malek (incumbent)
|votes = 273,930
|percentage = 41.5
|change =
}}
{{Election box candidate with party link|
|party = Republican Party (United States)
|candidate = Andrew Koenig
|votes = 135,828
|percentage = 20.6
|change =
}}
{{Election box candidate with party link|
|party = Republican Party (United States)
|candidate = Lori Rook
|votes = 127,970
|percentage = 19.4
|change =
}}
{{Election box candidate with party link|
|party = Republican Party (United States)
|candidate = Cody Smith
|votes = 97,029
|percentage = 14.7
}}
{{Election box candidate with party link|
|party = Republican Party (United States)
|candidate = Tina Goodrick
|votes = 19,115
|percentage = 2.9
|change =
}}
{{Election box end}}
{{Election box begin
|title=Missouri Treasurer general election, November 5, 2024<ref>{{cite web |title=All Results State of Missouri – State of Missouri – General Election, November 5, 2024 |url=https://enr.sos.mo.gov/ |website=Missouri Secretary of State |access-date=December 27, 2024}}</ref>
}}
{{Election box winning candidate with party link
| candidate = Vivek Malek (incumbent)
| party = Republican Party (United States)
| votes = 1,684,714
| percentage = 57.931
| change = -1.17
}}
{{Election box candidate with party link
| candidate = Mark Osmack
| party = Democratic Party (United States)
| votes = 1,106,236
| percentage = 38.039
| change = -0.06
}}

{{Election box candidate with party link
| candidate = John A. Hartwig, Jr.
| party = Libertarian Party (United States)
| votes = 81,443
| percentage = 2.801
| change = 0.60
}}
{{Election box candidate with party link
| candidate = Reagan Haase
| party = Green Party (United States)
| votes = 35,745
| percentage = 0.63
}}
{{Election box total
| votes = 2,908,138
| percentage = 100.00%
}}
{{Election box hold with party link no swing
| winner = Republican Party (United States)
}}
{{Election box end}}



==References== ==References==
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Latest revision as of 17:13, 4 January 2025

American politician from Missouri
Vivek Malek
48th Treasurer of Missouri
Incumbent
Assumed office
January 17, 2023
GovernorMike Parson
Mike Kehoe (elect)
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) 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

Missouri Treasurer primary election, August 6, 2024
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
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

  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.
Party political offices
Preceded byScott Fitzpatrick Republican nominee for State Treasurer of Missouri
2024 		Most recent
Political offices
Preceded byScott Fitzpatrick Treasurer of Missouri
2023–present 		Incumbent
Statewide political officials of Missouri
U.S. senators
State government
Senate
House
Supreme Court
State treasurers of the United States
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Political party affiliations: italics indicate closest equivalent to treasurer in this state
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