DLC Leonid Radvinsky, owner of OnlyFans, gets a $338 million payout -

Leonid Radvinsky, owner of OnlyFans, gets a $338 million payout

Leonid Radvinsky, the proprietor of OnlyFans, a digital platform frequented by sex workers, musicians, celebrities, and others, has received a substantial dividend of $338 million (£268.5 million). Fenix International, the parent company, reports a surge in annual profits, exceeding half a billion dollars. The platform currently accommodates over three million creators, catering to nearly 240 million users, referred to as “Fans.”

UK-based Fenix International, with its sole shareholder Leonid Radvinsky, boasts a personal wealth estimated at over $2 billion. As per records submitted to the UK corporate registry Companies House, more than $5.5 billion was expended on the OnlyFans platform in the year culminating in November 2022. This marked an increase from $4.8 billion in 2021.

During the stated period, the London-registered company reported pre-tax profits of $525 million, up from $432 million in the previous year. The roster of creators on OnlyFans rose by 47%, reaching almost 3.2 million, while users increased by 27%, nearing 239 million.

For the first time, over half of the company’s earnings were derived from non-subscription services, encompassing tips and on-demand content provided by creators. The company takes a fifth of payments processed on the site, with approximately 80% directed towards creators.

Fenix conveyed in its filing, “OnlyFans recorded sustained growth and profitability. This reflects both the platform’s expansion in terms of the number of content creators and fans, as well as growth in earnings of existing content creators.”

The onset of the COVID-19 pandemic and associated lockdowns led to a surge in traffic on OnlyFans and similar streaming platforms, given people’s confinement to their homes. However, post-pandemic restrictions, many of these platforms witnessed a decline in their gains.

Established in 2016 by Guy and Tim Stokely, father and son duo, OnlyFans was later sold to Ukrainian-American entrepreneur and owner of adult websites, Mr. Radvinsky, in 2018. Forbes magazine estimates Mr. Radvinsky’s net worth at around $2.1 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *