Adult content platform OnlyFans has paid its owner, Ukrainian-American entrepreneur Leonid Radvinsky, $701 million in dividends ahead of a potential sale of the company, which is valued at $8 billion, Bloomberg reports.
The payout was disclosed in financial statements by Fenix International Ltd., the London-based company that operates the platform. The total dividends received by Radvinsky since 2021 have reached about $1.8 billion.
Key financial indicators
- Revenue: OnlyFans processed payments worth $7.2 billion in 2024 (compared to $6.6 billion in 2023).
- Profit: Pretax profit was $684 million, up 4% from a year earlier.
- Number of users: The number of creator accounts increased by 13% to 4.6 million, while the number of fan accounts increased by 24% to 377.5 million.
OnlyFans earns money by keeping a 20% commission on subscriptions and content sales. The platform became extremely popular during the pandemic, when many sex workers and celebrities were looking for ways to make money during lockdowns.
Leonid Radvinsky bought a controlling stake in OnlyFans in 2018 from British brothers Guy and Tim Stockley, who created the platform in 2016.