Recently, Yu Minhong, the founder of New Oriental, revealed his inheritance distribution for the first time in an interview.
Mr. Yu said he planned to divide the estate into three main parts.
In addition to the necessary expenses for his family, most of his estate will be used to support the education of children in remote rural areas.
The rest of the wealth will be left to the New Oriental Charity Association and Peking University.
In addition, when the topic of ** people is mentioned,Yu Minhong said that Dong Yuhui could be considered.
Let this experienced and talented person continue to take New Oriental forward, move towards a new direction, and run a better education.
This moved many netizens, saying, "I admire Mr. Yu's pattern!."”
He didn't even forget to talk about education when he made a will, which highlights Yu Minhong's endless love for education.
As a giant in China's education field, Yu Minhong's actions reflect his persistent pursuit of education.
There are also some people who are curious, as a legend who founded New Oriental, how much is Yu Minhong's legacy?How much wealth does he have now?
According to the data of the "2022 Hurun Report", Yu Minhong is currently worth 8.2 billion yuan, ranking 789th among the richest people in China.
According to the distribution of Yu Minhong's estate, more than 4 billion yuan will be invested in the education of rural children.
Many people were surprised by this huge number. But in fact, 2 years ago, Yu Minhong's worth was as high as 26 billion yuan.
In just one year, how could his worth shrink by 18.5 billion yuan?
On July 24, 2021, the "double reduction" policy was implemented, and the entire education and training industry was full of grief.
As the leader of the education and training industry, New Oriental is the first to be affected.
As the co-founder and chairman of New Oriental Group, Yu Minhong is naturally worth the best along with him.
At the opening of Hong Kong stocks in July, New Oriental's market value was only HK$33.1 billion, setting a record of evaporating more than HK$40 billion in market value on the same day.
If calculated from the most ** in February of that year, New Oriental lost a market value of 239 billion Hong Kong dollars in 5 months.
In less than a year, New Oriental lost 90% of its overall and lost about 200 billion.
Yu Minhong has worked hard for the education industry for nearly 30 years, and his life's work has been condensed in New Oriental. This blow was not insignificant for him, and he was sad for a while.
Later, when he recalled that time again in front of everyone, his tone was still solemn. "Sitting in the office every day and opening a bottle of liquor, life is a mess."
But even so, he did not leave the mess and run away like other training institutions, but continued to make a living with everyone.
Yu Minhong first solved the company's internal financial problems, dealt with the salaries and tuition fees of teachers and students, and then donated all 80,000 sets of desks and chairs worth more than 50 million yuan to rural schools in New Oriental.
Starting from November 2021, Yu Minhong started from scratch and led the teachers of New Oriental to start the transformation and develop the live broadcast industry.
New Oriental's donation of desks and chairs sparked a lot of discussion at the time.
And Yu Minhong's ability to deal with New Oriental's financial problems and leave the market with dignity has also attracted the attention of many people.
Some people praised him for not forgetting education in such a difficult time for himself;There are also questions about how he solved the problem of losses
This is because Yu Minhong did not achieve the position of chairman all at once, and he had also experienced difficult years before this, struggling all the way up from the bottom.
This honed his cautious character, not only intelligent, but also far-sighted.
He left a sum of money on the company's books early on, which was used to deal with the company's aftermath and deal with this kind of financial problem.
This money allows New Oriental to have a way back after encountering the "double reduction" policy, and the teachers' salaries and children's tuition fees can be solved decently.
The problem needs to be solved, but 30 years of hard work cannot be ruined in one fell swoop.
Under the leadership of Yu Minhong, New Oriental regrouped, selected the live broadcast track that has been very hot in recent years, and began to deepen the live broadcast industry.
As soon as the news of "New Oriental Live" came out, many people took it for granted that they were going to sell courses and materials.
As a result, no one expected that New Oriental took a fancy to agricultural products and created a new brand - Oriental Selection.
As the official live broadcast room of New Oriental, Oriental Selection can be called a clear stream, and the live broadcast atmosphere is completely different from others.
There is no shouting and selling, and there are no flowery gifts.
Instead, a teacher sits at a desk and demonstrates a variety of agricultural and sideline products in fluent English.
This teacher is Dong Yuhui.
Dong Yuhui was originally a famous English teacher in the third year of New Oriental High School, with strong English skills and excellent adaptability.
He spoke pure English in the live broadcast room, selling steaks, grains, and rice, talking and laughing, combining knowledge with selling goods, and soon won the love of the masses, and many parents specially found out for their children to learn.
Dongfang selection has become a clear stream in the live broadcast industry, and it is becoming more and more popular.
The audience who had seen enough of the noisy audience bought this kind of "knowledge live broadcast" very much, and asked New Oriental teachers to use the content of English, history, physics and other subjects to bring goods.
Yu Minhong himself sometimes leaves the live broadcast room. He once said, "I can leave anything in my life, but I can't leave the pulpit." ”
Teaching knowledge in this way is also one of the measures to cope with the changes of the times, and his original intention has never changedToday's Yu Minhong can be said to have relied on Dongfang Selection to stand up again, and New Oriental finally successfully realized the transformation and "came back to life".
The Oriental selection is now impressive, Dong Yuhui and Yu Minhong are like Maxima and Bole, achieving each other.
Dong Yuhui was able to attract many ** with his true talent and learning in the live broadcast room, and attracted a large number of fans for himself and the New Oriental behind himYu Minhong, as the driving force behind it, transformed from the education and training industry to the live broadcast industry that he had never been exposed to, and he was a great success, which makes people have to admire.
Capital plays an increasingly important role in today's society, and Yu Minhong, as the chairman of New Oriental Group, has a high reputation.
Now he has decided to devote most of his inheritance to education, and he has truly achieved the goal of "taking money from education and using it for education".
This serves as a positive role model for society.
Some people commented that Yu Minhong has walked out of half his life, and behind the businessman is still a literati and a scholar.
Mr. Yu is not a businessman, but an entrepreneur and an educator. ”
In fact, in the final analysis, Yu Minhong is still an ordinary person, and his success has never been achieved overnight.
To be able to get to where he is today, he has come step by step, relying on ability and luck.
In September 1962, Yu Minhong was born in Wuxi City, Jiangsu Province, and his home was in Huqiao Village.
Although the family conditions are not good, but his parents take a lot of care of him, Yu Minhong loved to be sick when he was a child, his mother has been giving him stewed chicken soup seasoning, and when he grew up, he let him do farm work to exercise.
In 1978, Yu Minhong took the college entrance examination for the first time, but failed because he failed English.
In the second college entrance examination, Yu Minhong fell off the list again because of the difference of 5 points in English.
Unconvinced, he signed up for a tutoring class and studied full-time at home for a year to prepare for the third college entrance examination.
Every morning when the sky is bright, Yu Minhong gets up and starts to read in the morning, and after the lights go out at night, he turns on the flashlight to memorize words in the bed, and he can memorize every text in the textbook.
In 1980, Yu Minhong completed the English test paper in 40 minutes, and finally was admitted to the English Department of Peking University with a score of ten points above the admission line.
During his time at school, in order to save for tuition, he worked as a substitute teacher in an off-campus training class and discovered his teaching talent.
At the end of the 80s of the 20th century, with the rise of reform and opening up, the whole country set off an upsurge of going abroad.
Yu Minhong kept up with the times and began to work hard to go abroad.
But the money he earned as substitute tutors could not meet the needs of going abroad, and he tossed back and forth for two or three years, and his plan to go abroad could only be shelved.
Over the years, Yu Minhong has not only accumulated English learning skills, but also has rich teaching experience and understanding of overseas exams, which is not a level that ordinary people can achieve.
Many peers are in the enrollment class, Yu Minhong also cooperated with a teacher from Peking University to run an English training class, advertising enrollment on the campus of Peking University, but I didn't expect the effect to be very good.
However, this kind of "business grabbing" behavior quickly aroused the dissatisfaction of the leaders of the school's English department at that time, and Yu Minhong was given an administrative demerit punishment, not to mention his "crime" broadcast on the loudspeaker.
Yu Minhong was angry and decided to resign and run an English training course full-time.
Doing it alone is always more troublesome than it is to say.
He first brought a small printed advertisement and posted it all over Beijing, and when he posted it at Peking University, he had to be careful not to meet the people he knew before.
In order to increase the attractiveness, Yu Minhong has held a lot of free lectures to attract interested young people.
After coming and going, he gained his own popularity, and the tuition fees of his training courses were lower than those of other places, and more and more students came to attend and study.
In 1993, he founded Beijing New Oriental School.
After the establishment of the school, Yu Minhong has become a leader in China's English training market with tenacity and continuous expansion of teaching scale and strict teaching quality.
With the increasingly fierce competition in the education market, Yu Minhong has led New Oriental to continue to innovate and progress, and also expanded the international education market, "New Oriental" has become more and more famous, and has become the head brand of China's education.
Yu Minhong has worked hard for 30 years for the three words "New Oriental", and when the double reduction policy was implemented, he was also at a loss.
Where is New Oriental going?Can a school that doesn't hold classes still be called a school?
So many years of hard work experience told Yu Minhong that escaping can't solve any problems.
If you can't carry things on your own, things will be so overwhelming that you can't turn over.
In the winter of the year when the "double reduction" policy was released, Yu Minhong started from scratch and led the teachers of New Oriental to transform into the live broadcast industry.
In fact, for a long time, the live broadcast room of Dongfang Selection was ignored.
Everyone doesn't know much about the gameplay of live broadcasting, and the sales performance is pitiful, and sometimes there are only dozens of people in the live broadcast room one night.
In the face of these challenges, Yu Minhong led the team to continuously optimize the live broadcast content, improve the quality of products, and launched a new idea of "combining knowledge with selling goods", which completely opened up the market and attracted a large number of fans, which led to today's success.
Yu Minhong has been serious about education all his life, and his education career is not only limited to making money, but regards education as the cornerstone of the development of the country and the nation.
Now Yu Minhong is over the age of six, but he has never stopped advancing.
His last wish to contribute to China's education is a manifestation of the broad-mindedness of an educator.
And considering Dong Yuhui as his own ** person, he is also handing over the torch of education to the next stick, which is really "passing on the torch".