Bussiness
OnlyFans made its owner Leo Radvinsky $472 million last year as profits boomed
The low-profile owner of OnlyFans got another handsome payout last year as its profits boomed.
Leo Radvinsky, who bought the subscription site in 2018, received a dividend payment of $472 million in 2023, according to accounts published Friday by its UK-based parent company, Fenix International.
Radvinsky collected almost 40% more than in 2022, when he collected $338 million. He made more than $500 million from the platform popular with adult content creators in the two years prior.
Forbes estimates Radvinsky’s net worth at $3 billion. Since 2020, he’s earned about $1.3 billion from OnlyFans, helping the Ukrainian-American inch closer to his dream of joining the ranks of superrich people who’ve signed The Giving Pledge and promised to give away most of their wealth.
The entrepreneur seems to enjoy keeping a low profile but has shared on his personal website that he’s training to be a helicopter pilot and lives in Florida.
Radvinsky has already engaged in philanthropy by donating $5 million to Ukraine relief efforts in 2022 and to charities that include Memorial Sloan Kettering Cancer Center and the animal welfare organization West Suburban Humane Society, according to his website.
OnlyFans proved it’s more than just a pandemic darling as its revenue climbed by almost a fifth last year to $1.3 billion. Its total number of creators rose 29% last year to 4.1 million, and its fan base increased by 28% to 305 million.
The company boomed during the pandemic as many people flocked to join the platform — the company reported a 75% increase in sign-ups between March and April 2020. According to company filings, its user base more than doubled from 2021 to 2022, when it had 188 million fans.
OnlyFans didn’t immediately respond to a request for comment from Business Insider.
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