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August 25, 2023

A $338 Million Payout Has Been Received By The Owner Of OnlyFans, Leonid Radvinsky

Sex workers, musicians, celebrities, and others use OnlyFans, the online platform for sex work. In dividends, the company’s owner has received $338 million (£268.5 million).

Profits for its parent company, Fenix International, jumped to over half a billion dollars in the past year.

According to Fenix, it now hosts over three million creators and serves nearly 240 million users.

The platform’s sole shareholder, Leonid Radvinsky, is worth over $2 billion.

Until the end of November 2022, the company spent more than $5.5 billion on the OnlyFans platform, according to accounts filed with the UK corporate registry Companies House.

In 2021, the amount was $4.8 billion.
The London-based company’s profits rose from $432 million to $525 million.

OnlyFans now has nearly 3.2 million creators and almost 239 million users.

Also, over half of the company’s revenues are derived from non-subscription services, such as tips and on-demand content.

According to the firm, around 80% of the payments made on the site go to creators. “Fenix reported sustained growth and profitability for OnlyFans,” it stated.

“Content creators earned more as well, as the number of fans grew on the platform,” it said.

Due to the Coronavirus lockdowns, OnlyFans and other streaming sites experienced increased traffic.

As a result of the lifting of restrictions, many of those platforms have seen their gains from the pandemic era disappear. Guy Stokely and his son Tim Stokely founded OnlyFans in 2016.

Mr Radvinsky, a Ukrainian-American entrepreneur and owner of a porn site, purchased the company in 2018.

According to Forbes magazine, Mr. Radvinsky has an estimated net worth of $2.1 billion.

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