OnlyFans, a subscription-based site known for its adult content, has paid out £1bn to its Ukrainian-born owner, Leonid Radvinsky, since he took over the company six years ago.
The British platform’s parent company, Phoenix International, announced a record dividend of $472 million (£358 million) last year, contributing to the large payouts.
Radvinsky, a 42-year-old Ukrainian-American businessman who is listed as the sole shareholder of Phoenix International, has earned $1.3 billion in profits since 2020, including $159 million in the first four months of this year. Radvinsky bought OnlyFans in 2018 from its founders, Jay and Tim Stockley, who launched the site in 2016.
The latest distribution comes as OnlyFans’ 300 million users have spent a record $6.6 billion on the platform, which hosts a variety of content from fitness and lifestyle videos to explicit pornography. The company takes a 20% cut of subscription and purchase fees, with the remaining 80% going to creators.
OnlyFans revenue rose 20% to $1.3 billion in the year ended Nov. 30, while profits rose 25% to $658 million. The number of creator accounts on the platform also rose 29% to 4.1 million.
Radvinsky, who hails from Odessa and is now believed to be based in the United States, rarely makes public appearances. His personal website describes him as a “skilled architect, angel investor, philanthropist, and open source software advocate.” Before founding OnlyFans, he founded another adult site, MyFreeCams.
Kelly Blair, CEO of OnlyFans, praised the company’s achievements in 2023, saying: “2023 has been a strong year for OnlyFans. We have cemented our position as a leader in digital entertainment and a UK tech success story. We have done this by continuing to provide opportunities for our diverse community of creators to monetize their content and grow their global fan base.”
Blair added that the company remains committed to investing in the creator economy, emphasizing its focus on providing a “safe and innovative digital media platform” for both creators and fans.