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October 15, 2023

OnlyFans Owner Leonid Radvinsky Receives a $338 Million Payout

OnlyFans owner paid $338m (£268.5m) in dividends to its users, including sex workers, musicians, and celebrities. Over half a billion dollars was made by its parent company, Fenix International.

Almost 240 million users, or “Fans”, use the platform, which now hosts more than three million creators. Leonid Radvinsky, the sole shareholder of UK-based Fenix, has a fortune worth $2 billion.

Over $5.5 billion was spent on the OnlyFans platform in the year to November 2022, the firm said in accounts filed with Companies House. It’s up from $4.8bn in 2021.

According to the London-registered company, pre-tax profits hit $525 million, up from $432 million last year. There are almost 3.2 million creators on OnlyFans and close to 239 million users.

Over half of the company’s revenue also came from non-subscription services like tips and creator-created content. According to the company, around 80% of payments made on the site go to creators.

As Fenix said in its filing, OnlyFans had sustained growth and profitability. “The increase in content creators and fans, as well as the increase in earnings for existing content creators, reflects the growth of the platform,” it says.

As people were stuck at home during the Coronavirus lockdown, traffic spiked for OnlyFans and other streaming sites.

After restrictions were lifted, many platforms lost their gains from the pandemic. Guy and Tim Stokely founded OnlyFans in 2016.

Radvinsky, who owns a porn site, bought the company in 2018. Forbes magazine estimates that Mr Radvinsky is worth $2.1 billion.



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