Early Life
Michael Minhong Yu was born on September 4, 1962, in Jiangyin, Jiangsu, China. He faced early academic challenges, including failing the university entrance exam twice. However, he was eventually admitted to Peking University, where he studied English. After graduating in 1985, he began teaching English at Peking University.
Rise to Success
Yu's entrepreneurial journey began when he realized the limitations of his teaching salary and the challenges in obtaining a visa for studying abroad. He started teaching English classes outside of Peking University. In 1993, he founded New Oriental School, offering test preparation courses, primarily for English proficiency exams. Through hard work, Yu transformed the school into the New Oriental Education and Technology Group, the largest private educational enterprise in China. New Oriental was listed on the New York Stock Exchange in 2006.
Key Business Strategies
New Oriental's success was built on a combination of innovative teaching methods, incorporating interactive techniques with traditional Chinese educational values. Yu expanded the business to include a wide range of educational programs, including English and other foreign languages, test preparation, and online education. He also invested in digitalization and formed partnerships with educational institutions.
Philanthropy
Yu is known for his philanthropic efforts, supporting education and other charitable causes.
