Leonid Radvinsky, the owner of OnlyFans, has taken $631 million from the platform over the past two years, as user engagement and subscriptions continue to rise sharply. Fenix
Leonid Radvinsky, the owner of OnlyFans, has taken $631 million from the platform over the past two years, as user engagement and subscriptions continue to rise sharply.
Fenix International, which owns the popular platform known for its diverse range of content creators, reported pre-tax profits of $658 million for the year ending November 2023, according to newly filed accounts. The platform saw a significant influx of nearly one million new content creators and over 50 million new subscribers, marking a 29% increase.
The latest financial results come as OnlyFans faces scrutiny over its efforts to prevent minors from accessing adult content on its site.
Radvinsky, a Ukrainian-American entrepreneur who acquired OnlyFans from its founders, Guy and Tim Stokely, in 2018, has drawn substantial dividends from the platform. His compensation package included $472 million in dividends up to November 2023, with an additional $159 million in subsequent months. This payout follows a $338 million withdrawal in 2022, totaling nearly $1 billion over the past three years. Forbes now estimates Radvinsky’s net worth at $3.8 billion.
Despite its notable profitability, OnlyFans operates with a small team of just 41 staff members and one director. In 2023, the platform reported that its content creators earned $6.6 billion, with OnlyFans taking a 20% cut of each creator’s revenue.
Keily Blair, OnlyFans’ CEO, highlighted the company’s successful year, emphasizing its commitment to supporting a diverse creator community and expanding their global reach.
The platform, registered in the UK with its headquarters in London, is currently addressing regulatory concerns raised by Ofcom regarding the effectiveness of its age verification measures. OnlyFans previously attributed these concerns to a “coding configuration issue” but maintained that age thresholds were always set above 20.
Radvinsky currently resides in Florida, while the platform continues to expand its offerings, including a new, pornography-free TV streaming service launched in 2023.
