OnlyFans profits soar, boss enjoys over a billion in dividends, company holds 9,000 ETH.
London-based social media platform OnlyFans, popular among young demographics and particularly adult content creators, has been profitable. The 41-year-old owner, Leonid Radvinsky, received $338 million in dividends last year, with an estimated personal wealth exceeding $2.1 billion. OnlyFans' financial reports also revealed that the company holds over 9,000 Ether coins.
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OnlyFans Sees Significant Increase in User Numbers and Profits Last Year
According to the financial report submitted by its parent company Forbes, in the past year ending November 2022, OnlyFans platform has generated an annual revenue exceeding $5.5 billion, up from $4.8 billion in 2021; with a pre-tax profit of $525 million, higher than the previous year's $432 million.
According to data provided by its parent company Fenix, the number of content creators on OnlyFans increased by 47% last year to nearly 3.2 million, while the number of fan users grew by 27% to nearly 239 million. Additionally, last year marked the first time that over half of OnlyFans' revenue came from "non-subscription services," such as tips and creator pay-per-view content. The company stated that OnlyFans platform takes a 20% cut, with the remaining 80% income going to the creators.
CEO Receives Over One Billion Dividends Annually
Leonid Radvinsky, the sole shareholder of Fenix and the Ukrainian-American CEO of OnlyFans, received $338 million in dividends in 2022, up from $284 million in 2021. According to Forbes, Radvinsky's net worth was $1.2 billion in 2022, soaring to $2.1 billion in 2023, with a 1.75x increase in wealth in a year, ranking 1434th in the 2023 Forbes billionaire list.
Company Holds Approximately Nine Thousand ETH
According to the submitted report, as of November 30, 2022, OnlyFans purchased Ethereum (ETH) worth $19.889 million. The ETH purchased had depreciated by $8.455 million as of November 30, 2022, with a book value of $11.434 million. Based on the November-end ETH price of $1,217, OnlyFans holds approximately 9,395 ETH.
