The reclusive owner of OnlyFans has racked up $517 million in dividends since the end of 2020 as the porn site’s profits soared, company filings show.
Ukrainian-American businessman Leonid Radvinsky, 40, collected extraordinary dividends of $284 million last year through the end of November and $233 million so far this year, according to annual filings from Thursday
Radvinsky, who lives in a lavish $4 million mansion in Boca Raton, Florida, took control of London-based OnlyFans in 2018, buying a majority stake from the British site founder for an undisclosed sum.
Founded in 2016, OnlyFans has grown in popularity, attracting famous names like Blac Chyna, Bella Thorne and Cardi B, who earn millions from monthly subscribers. Many OnlyFans “creators” post hardcore porn, although most established stars who join the platform upload much less risque content.
Ukrainian-American businessman Leonid Radvinsky, 40, earned $284 million in extraordinary dividends last year through the end of November and $233 million so far this year.
Radvinsky, who lives in a lavish $4 million mansion (above) in Boca Raton, Florida, took control of London-based OnlyFans in 2018
Blac Chyna and Bella Thorne are two of the most successful “content creators” on OnlyFans
OnlyFans Top 10 Earners: Bella Thorne and Blac Chyna Make MILLIONS a Month on the Site
According to Influencer Marketing Hub, these A-listers rake in millions of dollars a month, with Blac Chyna topping the site’s top earners list.
Here are the estimated monthly earnings of the site’s top creators:
- Blac Chyna: $20 million
- Bella Thorne: $11 million
- Cardi B: $9.34 million
- Tyga: $7.69 million
- Mia Khalifa: $6.43 million
- Erica Mena: $4.49 million
- Pia Mia: $2.22 million
- Safaree Samuels: $1.91 million
- Megan Barton Hanson: $1.06 million
- Jem Wolfie: $900,000
OnlyFans takes a 20 percent cut of users’ monthly fees, with the rest going to the content creators themselves.
While the pandemic shut down many traditional porn studios, self-generated content on OnlyFans increased and the company has experienced explosive growth.
Radivinsky is currently the sole owner of the holding company OnlyFans Fenix International Ltd, according to Bloomberg, which first reported the company’s annual results.
According to the new annual report, in the period last year, OnlyFans more than doubled the number of subscribers and increased the number of creators by more than a third.
Revenue rose to $932 million from $358 million a year earlier, and OnlyFans reported pretax profit of $433 million, seven times what it earned the year before.
The site’s owner, Radvinsky, is a veteran of the porn industry but keeps a low public profile, living quietly in a gated mansion in Florida.
In 2018, it bought OnlyFans from founder Timothy Stokely, the British son of a banker.
The site has been credited with revolutionizing the adult industry, but some artists have claimed they feel pimped out by the service and have also faced criticism for not doing enough to prevent underage users from selling explicit content .
In response, the company told the BBC it was continually improving its approach to security and content moderation.
OnlyFans is proving to be very lucrative for both creators and Radvinsky, with users spending $4.5 billion on the site last year.
Cardi B earns an estimated $9.34 million per month on the site and Mia Khalifa $6.43 million
American rapper Tyga is also among the top earners on OnlyFans, according to an estimate by Influencer Intelligence.
Traditionally, OnlyFans has been used by porn stars and sex workers to sell explicit content to paying users.
But it also provides a platform for musicians, fitness trainers and influencers to sell content.
Last year, the site announced it was banning explicit material to appease financial backers, only to relent after a backlash from users.
The controversy prompted a change in leadership, with former marketing chief Amrapali Gan taking over as CEO.
Gan said in the annual report: “We are empowering creators to monetize their content and have real control over it.”
“Our unwavering commitment to our creators has driven our success over the past 12 months,” he added.
“We will continue to invest in the creator economy by improving security, developing original OFTV content and continuing to grow our community of creators and fans.”