OnlyFans Pays Out £1 Billion to Owner, Leonid Radvinsky
OnlyFans, the subscription-based website known for its adult content, has paid out a staggering £1 billion to its Ukrainian-born owner, Leonid Radvinsky, since he acquired the company in 2018. This information comes from a report by Business Matters, a UK-based publication focused on small and medium-sized businesses.
The report details how the platform's parent company, Fenix International, declared a record $472 million (£358 million) dividend last year, contributing significantly to Radvinsky's payouts. Since 2020, the 42-year-old entrepreneur has received a total of $1.3 billion in dividends, including $159 million in the first four months of 2023.
This news comes amidst OnlyFans' continued growth, with its 300 million users spending a record $6.6 billion on the platform in 2023. The company, which hosts a variety of content from fitness and lifestyle videos to explicit adult material, takes a 20% cut of subscription and purchase fees, with the remaining 80% going to creators.
OnlyFans' revenue rose by 20% to $1.3 billion in the year ending November 30, 2023, while profits surged by 25% to $658 million. The number of creator accounts on the platform also grew by 29% to 4.1 million.
Despite his immense wealth, Radvinsky maintains a low public profile. Originally from Odesa, Ukraine, he is now believed to reside in the United States. His personal website describes him as an "accomplished company architect, angel investor, philanthropist, and open source software supporter." Prior to OnlyFans, he founded another adult site, MyFreeCams.
"OnlyFans had a strong year in 2023. We have cemented our place as a leading digital entertainment company and a UK tech success story. We have done this by continuing to provide opportunities for our diverse creator community to monetise their content and grow their global fan base."
Blair also emphasized the company's commitment to investing in the creator economy and providing a "safe and innovative digital media platform" for both creators and fans.