Yu Minhong

Yu Minhong
Born	(1962-09-04) September 4, 1962 Xiagang Subdistrict, Jiangyin, Jiangsu, China
Other names	Michael Yu
Occupation(s)	Entrepreneur, educator, investor
Years active	1993–present
Known for	Founder and president of New Oriental Education & Technology Group

Yu Minhong, also known as Michael Yu (; born September 4, 1962), is the founder and current president of New Oriental Education & Technology Group Inc. and holds a position on the central committee of the China Democratic League. As the proprietor of one of the largest private education enterprises in China, Yu has earned nicknames such as "China's wealthiest educator" and "Godfather of English Training." According to the Hurun Report's China Rich List in 2013, his net worth was estimated at $1.1 billion, placing him at number 245; by 2015, his fortune was approximately $1.09 billion, ranking him 487th nationally and 1759th worldwide. In November 2018, Forbes positioned him at #148 on its China Rich List and #1020 globally, with an estimated net worth of $1.7 billion.

Nearly 70% of Chinese students pursuing studies in the United States and Canada have participated in English courses offered by New Oriental. Since launching its online education platform in 2003, the company has amassed over two million registered users. Notably, New Oriental was the first private educational firm from China to be publicly traded on the New York Stock Exchange.

Yu has articulated a vision to establish a private university that, within four to five decades, ranks among China's elite educational institutions—aspiring for it to be recognized alongside Tsinghua University and Beijing University by top-tier high school graduates.

He is also a member of the Standing Committee of the China Democratic League.

Early life

Born into a rural household in Xiagang Subdistrict, Jiangyin, Jiangsu province on September 4, 1962, Yu Minhong benefited from his mother's encouragement toward education, which was uncommon at that time. Despite failing the university entrance examination twice and losing a year due to illness, he ultimately gained admission to Beijing University.

Initially assigned to a class for students with weaker Chinese language skills because of his non-standard dialect, Yu faced academic and financial hardships. During his junior year, pneumonia forced him to pause his studies for a year. After graduating in 1985, while many peers went abroad for further education, Yu applied to universities in the United States but was repeatedly denied visas despite his role teaching English at Beijing University.

New Oriental

As China's foremost private education service provider, New Oriental delivers programs including English and foreign language instruction, preparation for domestic and international exams, tutoring services, primary and secondary education courses, as well as online learning options. Its teaching methodology integrates engaging and humorous approaches with traditional Chinese educational principles.

Yu Minhong has highlighted "rediscovery" as a core strategic concept for New Oriental—assisting Chinese students studying overseas in reconnecting with their identity and homeland amid China's rapid modernization and increasing global presence. Beyond academic preparation, New Oriental strives to motivate and inspire its learners.

Foundation

Founded on November 16, 1993, New Oriental School began with Yu Minhong as its only English instructor. As student enrollment grew, he enlisted former classmates to join the faculty, including Wang Qiang, who earned a master's degree from the State University of New York. Wang recounted accompanying Yu on a visit to Princeton University where Yu’s popularity among Chinese students was evident—they affectionately referred to him as "Teacher Yu."

Expansion

Yu Minhong restructured the company into what became known as the New Oriental Education and Technology Group. By 2010, it had grown to become the largest private education provider in China, serving roughly 10.5 million students through 465 learning centers spread across 44 cities, alongside 29 retail bookstores. As of November 30, 2015, New Oriental’s operations included 63 schools and a total of 720 learning centers (which encompassed the schools), 25 bookstores, and more than 5,000 affiliated third-party bookstores. The organization employed over 17,000 educators in 53 cities. Its digital platform attracted around 11.9 million registered users. Despite emerging challenges from new online education startups attempting to disrupt New Oriental’s strong offline presence, Yu Minhong maintained a confident stance on fostering innovation.

On September 7, 2006, New Oriental made its debut on the New York Stock Exchange. At that juncture, Yu was recognized as "China’s wealthiest teacher," with an estimated net worth of US$800 million. Early founders and educators holding employee stock options also amassed considerable wealth. In preparation for the initial public offering, Yu introduced corporate governance reforms aimed at diminishing his personal control and positioning himself as a professional executive. This IPO milestone represented a significant step in the commercialization of education within China, although Yu stressed that New Oriental’s approach was not designed as a rapid wealth accumulation scheme and elicited varied responses.

Private University Development

Yu Minhong advanced his ambition to establish a leading private university by acquiring control of Gengdan Institute at Beijing University of Technology. Founded in July 2005 through collaboration between Beijing University of Technology and Beijing Gengdan Education Development Center, Gengdan functions as an autonomous undergraduate institution under a novel private higher education framework in China. On August 6, 2013, Yu was appointed president of its governing council, thereby extending New Oriental’s reach into China’s private tertiary education landscape.

Angel Investment Activities

Following investments in various Chinese venture funds—including those managed by New Oriental co-founders Xu Xiaoping and Wang Qiang’s Zhenfund—Yu Minhong sought a more hands-on role in investment ventures. In 2014, he joined forces with seasoned private equity professional Sheng Xitai to launch the Hong Tai Fund (Angel Plus), which focuses on angel and early-stage investments across sectors such as media, culture, education, entertainment, high technology, and mobile Internet. The fund also planned to pursue opportunities within Silicon Valley.

Cinematic Portrayal: American Dreams in China

The 2013 Chinese motion picture American Dreams in China, directed by Peter Chan, attracted significant attention for dramatizing entrepreneurial journeys inspired by Yu Minhong ("Cheng Dongqing"), Xu Xiaoping ("Meng Xiaojun"), and Wang Qiang ("Wang Yang"). While Yu acknowledged that his life partly inspired the character Cheng Dongqing, he refuted any direct personal similarities and confirmed that New Oriental did not participate financially in the film’s production.

Documentary Appearance

In the 2015 documentary Mr. Deng Goes to Washington, which chronicles Deng Xiaoping’s landmark visit to the United States in 1979, Yu Minhong appeared as a guest participant. During the film's press event and later at his Beijing office, Yu committed both himself and his staff to support the documentary by purchasing tickets.

Personal life

Yu is married and has two children, a son and a daughter. In 1995, his wife and daughter relocated to Canada.

Speech

Yu expressed the following: