Yu Minhong
| Yu Minhong | |
|---|---|
| Personal details | |
| Born |
October 15, 1962 Jiangyin,Jiangsu,China |
| Nationality |
 China
|
| Residence | Beijing, China |
| Education | Peking University |
| Occupation | Founder and President of New Oriental Education & Technology Group Inc. Vice President of the Education Committee of Central Committee of China Democratic League Member of Standing Committee of China Youth Federation Vice President of Chinese Young Entrepreneur Council Co-founder of Hong Tai Fund President of council of Gengdan Institute of Beijing University of Technology |
| Known for | The Relentless Pursuit of Success |
| Net worth | US$1.09 billion (2015) |
| Awards | China's 50 Most Influential Business Leaders (2012) CCTV Annual Economic Figures (2009) |
| Nickname(s) | God Farther of English training |
A camera shot of a drawing
Yu Minhong, or Michael Yu (Simplified Chinese: 俞敏洪; born 15 October 1962 in Jiangyin, Jiangsu) is the founder and president of New Oriental Education & Technology Group Inc. (Simplified Chinese: 新东方教育科技集团), and a member of the central committee of China Democratic League. As the owner of one of the largest private educational services, Yu is known as the "richest teacher in China", and "Godfather of English Training". On Hurun Report's China Rich List 2013, he had an estimated wealth $1.1 billion and was ranked No. 245 on the list. On the same list of 2015, he had an estimated wealth of $1.09 billion and was ranked No. 487. Also he was ranked No.1759 on Hurun Global Rich List 2015, with an estimated wealth of $1.1 billion.
Approximately 70% of Chinese students studying in the United States and Canada have taken English classes from the firm. In addition, the online education section has attracted more than 2 million registered users since beginning in 2003. New Oriental was the first Chinese private education company to list shares on the .
Yu stated, "My biggest dream is to found a private university, and for it to be one of China's top educational institutions after 40-50 years of development. When applying for higher education, my dream is for the best high school graduates to take my university into consideration, along with the likes of Tsinghua and Beijing University."
Yu Minhong was born in a rural family. Unlike for the time, Yu's mother encouraged him to go to school. Yu twice failed the university qualification exam and lost a year from illness. Yu was eventually admitted to Beijing University.
Yu was placed in a class for sub-standard students, because he couldn't speak standard Chinese. Yu was a poor student, both financially and academically. In his junior year, pneumonia forced him to take a year off. After graduation in 1985, many classmates went abroad for further education, Yu began to apply for US universities while teaching English in Beijing University. After three years, Yu was accepted by a university. His requests for overseas study visas were repeatedly denied.
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