Kenya, Aug. 23 -- Ukrainian-American billionaire Leonid Radvinsky, the sole owner of OnlyFans, has pocketed a record-breaking $701 million in dividends for fiscal 2024, as the subscription-based platform eyes a potential $7-8 billion sale.
The massive payout, disclosed in filings by Fenix International Ltd., OnlyFans' UK-based parent company, reflects the platform's explosive growth, with gross payments hitting $7.22 billion and subscriber accounts soaring 24% to 377.5 million.
The news has sparked mixed reactions, with some praising OnlyFans' creator economy success and others questioning its controversial content model as sale talks with investors, led by Los Angeles-based Forest Road Company, gain momentum.
OnlyFans, founded in 2016 by British entrepreneur Tim Stokely and later acquired by Radvinsky in 2018, has transformed the creator economy by enabling direct fan subscriptions, particularly for adult content.
In 2024, the platform processed $7.22 billion in payments, up from $6.6 billion in 2023, with creators earning $5.8 billion-an increase of $500 million from the previous year.
The company's revenue rose 9% to $1.4 billion, while pre-tax profits climbed to $684 million, driven by a 13% surge in creator accounts to 4.6 million. CEO Keily Blair highlighted the platform's expansion into new verticals like fitness and music, diversifying beyond its adult content reputation.
The $701 million dividend, including $497 million in 2024 and an additional $204 million paid in tranches through April 2025, adds to Radvinsky's staggering $1.8 billion in payouts since 2021.
Posts on social media reflect polarized sentiments, with some users celebrating the platform's financial success and others, raising concerns about its societal impact.
Radvinsky, a low-profile entrepreneur born in Odesa, Ukraine, and now based in Florida, has leveraged his experience from owning adult webcam businesses to scale OnlyFans into a global powerhouse, though its content has drawn scrutiny for issues like nonconsensual material and regulatory challenges.
As of 2025, Leonid Radvinsky net worth estimated to be $4.1 billion from the wall street index. In 2024 Leonid Radvinsky net worth was estimated to be $3.0 Billion as of march 2024 but in the same year, he received $300 Million in the last quarter of 2024 and acquire dividend of $701 Million in 2024 among other benefits.
Sale talks have intensified, with reports indicating a potential $7-8 billion valuation for OnlyFans. A consortium led by Forest Road Company, alongside British billionaires David and Simon Reuben, is reportedly in discussions to acquire a majority stake.
The platform's lean operation, employing just 46 people, and its $808 million cash reserve as of November 30, 2024, make it an attractive target despite concerns over its adult content.
Reuters noted in May 2025 that due diligence challenges, including risks of illegal content, have made some investors cautious, yet the platform's profitability continues to draw interest.
The OnlyFans sale talks highlight its dominance in the subscription-based content market, but they also underscore ongoing debates about its cultural and ethical implications.
Radvinsky's $701 million dividend payout has fueled discussions about wealth concentration in the creator economy, with users debating the platform's influence on digital culture.
OnlyFans' expansion into non-adult genres, through its OFTV streaming service for fitness, cooking, and comedy, aims to broaden its appeal and mitigate regulatory risks, yet its core business remains tied to adult content.
As sale talks progress, the $7-8 billion valuation reflects OnlyFans' robust financial performance and global reach, particularly in the U.S., its largest market.
The platform's ability to connect 4.6 million creators with 377.5 million fans has redefined content monetization, but its future hinges on navigating regulatory hurdles and public perception.
Radvinsky's record-breaking $701 million dividend underscores his personal windfall, with Forbes estimating his net worth at $7.8 billion, doubling from a year ago.
The potential OnlyFans sale could reshape the creator economy, setting benchmarks for subscription platforms. Radvinsky's strategic dividend payouts, totaling over $2 billion since acquiring OnlyFans, position him for a lucrative exit.
Whether the $7-8 billion sale materializes, OnlyFans remains a polarizing yet profitable force, with Radvinsky's $701 million dividend highlighting its financial might amid ongoing sale talks and societal debates.
Published by HT Digital Content Services with permission from Bana Kenya.