Muhammad Yunus was born on June 28, 1940, in Chittagong, Bangladesh. Growing up, he witnessed the poverty and struggles faced by many in his country, which would later inspire his groundbreaking work in microfinance.
Yunus pursued his education in the United States, where he obtained a Ph.D. in economics from Vanderbilt University in 1969. After completing his studies, he returned to Bangladesh and began teaching at Chittagong University.
During his time as an economics professor, Yunus became increasingly disturbed by the cycle of poverty in rural areas, where individuals lacked access to traditional banking services. In response, he founded the Grameen Bank in 1983, with the vision of providing small loans, or microcredit, to empower the impoverished to start their own businesses.
Yunus' innovative approach to microfinance was met with skepticism initially, but the success of the Grameen Bank proved the effectiveness of his model. The bank's impact in lifting people out of poverty and promoting financial inclusion led to Yunus being awarded the Nobel Peace Prize in 2006.
Following his Nobel Prize win, Yunus continued to advocate for social business and economic empowerment. In 2011, he co-founded Unus Social Business - Global Initiatives, a platform dedicated to promoting sustainable business solutions to social problems.
In recognition of his contributions to education and social entrepreneurship, Yunus was appointed Chancellor of Glasgow Caledonian University in Scotland in 2012. His dedication to creating positive change through business and finance has inspired countless individuals around the world.
Yunus was married to Vera Forostenko, an opera singer, from 1970 to 1979. Despite the challenges he faced in his personal life, Yunus remained committed to his mission of alleviating poverty and promoting economic opportunity for all.
Through his pioneering work in microfinance and social business, Muhammad Yunus has become a global symbol of hope and progress. His belief in the power of entrepreneurship to drive positive change has influenced generations of aspiring leaders and social entrepreneurs.