Early Life
Yu Minhong was born in a rural family in Xiagang Subdistrict of Jiangyin, Jiangsu, China, on September 4, 1962. He faced challenges early in his education, including failing the university entrance exam twice. Despite these setbacks, he persevered and gained admission to Peking University.
Rise to Success
After graduating from Peking University in 1985 with a degree in English, Yu began teaching English at the university. Frustrated by his repeated visa denials to study abroad, he founded New Oriental School on November 16, 1993. The school initially focused on English language test preparation, and it quickly grew, becoming a leading private educational enterprise in China. Yu's hard work and dedication transformed New Oriental from a family business to a corporation and, ultimately, an international corporation listed on the NYSE. New Oriental was listed on the New York Stock Exchange on September 7, 2006.
Key Business Strategies
New Oriental's success stemmed from its focus on English language test preparation and overseas study counseling. The company expanded to include language training, test preparation courses, primary and secondary school education, and online education. Yu's vision involved offering high-quality education that gave students a competitive advantage. However, Yu has expressed some regrets about listing the company, feeling that it led to a focus on rapid expansion. More recently, after a crackdown on the tutoring industry, Yu pivoted to livestream e-commerce, selling goods online.
Philanthropy
Information on Michael Minhong Yu's specific philanthropy is not readily available in the search results.