OnlyFans owner nets $500mn windfall as platform for sex workers booms
Monday - 05/09/2022 10:07Author: Editors DeskSource: Financial Times
Leo Radvinsky’s payment revealed as company unveils sevenfold surge in profits
The owner of OnlyFans has collected a $500mn windfall over the past two years from the booming popularity of the platform for sex workers and celebrities to sell content directly to their followers.
The dividend payments to Leo Radvinsky, a Ukrainian-American pornographer and internet entrepreneur, were disclosed by the UK-based company on Thursday as it unveiled a sevenfold surge in profits.
Payments of $284mn in 2021 and $233mn this year make Radvinsky one of the best-paid owners of an internet start-up in Britain and underlined the explosive growth of OnlyFans during the coronavirus pandemic.
OnlyFans allows content creators such as fitness instructors, musicians and erotic stars to sell video clips, messages and articles directly to fans, who pay between $5 and $50 a month, of which the group takes a 20 per cent cut.