Malone was born as the sole living heir to a tobacco farming empire dating back to the early 19th century, but he was more attracted to working in show business and Hollywood than managing the family industry in Kentucky. From the age of three, he spent his summers in Los Angeles with his grandmother, Francis Malone.
Upon graduation from college, Malone, a theater major, took to summer stock. He toured with the theater - which included several stints on Broadway. Still, he yearned for Los Angeles and moved to the city permanently in the late 1980s, where he did nightclub acts.
Malone was forced to cut back on the rigors of live performance to care for his ailing grandmother. Amongst other rare activities, he played backgammon twice weekly with Lucille Ball - up until two weeks before she died - and was described by Ginger Rogers in the National Enquirer as her longtime pal. Malone thus became more active in philanthropic pursuits, following in his grandmother's footsteps. Amongst other accomplishments, he provided much needed assistance to the Motion Picture Home - a home for retired or infirmed actors - raising and donating money for the home and arranging for inspirational visitations from other Hollywood stars. He also worked closely with the late "Mayor of Hollywood", Johnny Grant, securing stars on the Hollywood Walk of Fame.
One of his first movie acting forays was the film Sunset After Dark where Malone co-starred with Oscar winner Margaret O'Brien and Anita Page.
At an ensuing autograph show for Sunset After Dark Malone was discovered by producers from MTV who cast him opposite Carmen Electra on MTVs 1990s quirky hit show Singled Out. For three seasons, Malone played a variety of characters in a series of comedic sketches. Most notably was the character of "Filmstar Randal Malone" - a male version of Sunset Boulevard protagonist Norma Desmond. Singled Out host Chris Hardwick remarked that Malone and, particularly his character "Filmstar" was the funniest element in the show's history. After Singled Out's cancellation, Malone hosted segments for the Game Show Network until his grandmother's health declined to the point that he had to quit the day to day schedule of television in order to care for her full time.
Malone serves as President of the Southern California Motion Picture Council, a charitable organization rich in Hollywood history and remains one of the longest running groups of its kind in existence.