**OnlyFans Owner Receives $701 Million in Dividends Amid Sale Talks**
OnlyFans, the adult-content social network, announced on Friday that it has distributed $701 million in dividends to its owner, Leonid Radvinsky, as the company considers a potential sale. Fenix International, the London-based firm that operates OnlyFans, is reportedly exploring a sale with a valuation that could reach $8 billion, according to Bloomberg’s May report.
The platform enables content creators to provide subscription-based material directly to their fans, generating revenue by charging a 20% fee on subscriptions and content sales, including videos, photos, and chats. OnlyFans gained significant traction during the COVID-19 pandemic, as many sex workers and celebrities sought alternative income sources during lockdowns.
In its financial filing for the year ending November 30, 2024, Fenix International reported processing $7.2 billion in payments through the platform, an increase from $6.6 billion in 2023. The company’s pretax profit for the year reached $684 million, reflecting a 4% growth. The number of creator accounts surged by 13% to 4.6 million, while fan accounts increased by 24% to 377.5 million. In the previous year, OnlyFans reported a profit of approximately $485.5 million, marking a 20% rise from the prior year.
Leonid Radvinsky, a Ukrainian-American entrepreneur, received $497 million in ordinary dividends and an additional $204 million in five tranches after the reporting date. Since 2021, he has received around $1.8 billion from the platform. The company distributed dividends of $472 million in 2023, $338 million in 2022, and $284 million in 2021.
Radvinsky acquired a majority stake in OnlyFans in 2018 from its British founders, Guy and Tim Stokely, who established the site in 2016. Originally from Odesa, Ukraine, Radvinsky moved to Chicago as a child and currently resides in Florida.
As the company navigates potential sale discussions, its financial performance and user growth indicate a robust business model that continues to attract both creators and fans alike.
**FAQ**
**What is OnlyFans and how does it generate revenue?**
OnlyFans is a subscription-based social network that allows content creators to share exclusive material with their fans. It generates revenue by charging a 20% fee on all subscriptions and content sales made through the platform.
