Education Giant TAL Donates to Sichuan University
ZHANG Bangxin, President of TAL (Nasdaq-listed training education giant) made his first donation of RMB 50m (USD8m) to Sichuan University, from where he graduated in 2001 with a life sciences degree. This donation is to be used to establish an “Education for Tomorrow” fund offering scholarships.
With 4 million students studying offline and 35 million studying online, TAL has surpassed New Oriental to become the largest education training provider in China, and has reached a net revenue of nearly USD500m. In addition to training, TAL has also expanded its portfolio to include student recruitment by acquiring ‘Shunshun Study Abroad’.
ZHANG, who came from a humble background, and had to take a part-time tuition job while he studied his Master’s degree at Peking University, started Xueersi (which later became TAL) in 2003. ZHANG is keen to see the donation support students with financial disadvantages, as well as support short-term overseas visits. TAL employs 27,000 employees, and ZHANG, with a personal wealth of RMB 40 billion (USD 6.7 billion), is listed as No. 1 in Hurun’s Richest Chinese in the Internet field.