News Update


Leonid Radvinsky, the owner of OnlyFans, has received a $338 million settlement.

Dividends were given to the proprietor of OnlyFans, an internet platform utilized by sex workers, singers, celebrities, and others.

Its parent firm, Fenix International, claims that annual profits have risen to more than $500 million.

According to the network, it now accommodates over three million creators and serves about 240 million users, or “Fans.”

Leonid Radvinsky, the sole stakeholder of Fenix, has a personal fortune worth more than $2 billion.

According to papers submitted by the UK corporate registrar Companies House, the corporation spent more than $5.5 billion on the OnlyFans platform in the fiscal year ending November 30, 2022. This was an increase from $4.8 billion in 2021.

The London-based company reported pre-tax profits of $525 million for the period, up from $432 million the prior year.

OnlyFans’ creators increased by 47% to over 3.2 million, while users increased by 27% to nearly 239 million.

The business also stated that for the first time, non-subscription services such as gratuities and on-demand content by producers accounted for more than half of its revenue.

According to the company, it takes a fifth of all payments received on the platform, with roughly 80% going to creators.

“OnlyFans recorded sustained growth and profitability,” Fenix stated in its report.

“This reflects both platform growth, in terms of the number of content creators and fans, as well as growth in existing content creator earnings,” the company stated.

During the coronavirus lockdowns, when people were trapped at home, traffic to OnlyFans and other streaming sites skyrocketed.

However, as limits were lifted, many of those platforms’ benefits from the pandemic era vanished.

Guy and Tim Stokely, a father and son duo, established OnlyFans in 2016.

In 2018, they sold the company to Mr Radvinsky, a Ukrainian-American entrepreneur and owner of a porn site.

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


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