Yu Minhong

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Yu Minhong, or Michael Yu (Chinese: 俞敏洪; born 4 September 1962) is the founder and president of New Oriental Education & Technology Group Inc., 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. As of November 2018, he is ranked #148 on Forbes China Rich List 2018 and #1020 on Forbes Billionaires 2018, with an estimated net worth of $1.7 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 New York Stock Exchange. 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 is a member of the Standing Committee of the China Democratic League.