Do you know this person? He is Yu Minhong (Michael Yu), the founder and CEO of Chinese education giant -- New Oriental Education & Technology Group Inc. He is one of the most successful English teachers in China.|
Born into a poor farmer's family in Jiangyin City, Jiangsu Province, Yu overcame many difficulties in his early life and has been developing his own business empire over the past twenty years, from 1993 to 2013.
The 51-year-old entrepreneur, dubbed the "Godfather of Overseas Study," is also known as the most successful and richest teacher in China.
On Nov 16, 1993, Yu, a graduate from Peking University, founded the New Oriental English Training School, the predecessor of New Oriental, in an illegally-built and shabby bungalow in Beijing's Haidian District.
Starting with a class of merely 13 students, Yu developed his small training school into China's largest private education service provider.
His company was listed on the New York Stock Exchange in 2006.
New Oriental, now with a faculty team of more than 30,000, raked in nearly 6 billion yuan (US$967.7 million) in revenue in 2012.