OnlyFans’ billionaire owner Leonid Radvinsky, is now looking for a buyer of the content subscription service but is having trouble selling his business because of its X-rated business model, as per a report.

Billionaire Behind OnlyFans Looks to Exit

The 40-year-old, who acquired OnlyFans in 2019, watched his net worth balloon to $3.8 billion after the platform boomed during the COVID-19 lockdowns, according to the New York Times. As of November 2023, Radvinsky earned $472 million in dividends from the adult site and he pocketed almost all of the profits generated by the platform, which is reported to have around 40 workers, as per the New York Times.
According to a Bloomberg report, which cited the last available UK financial filings from 2021 to 2023, Radvinsky’s total payouts increased to over $1 billion from OnlyFans’ holding company, Fenix International, which is owned by him.
OnlyFans spokeswoman told The New York Post, “OnlyFans is a revolutionary platform which continues to lead the creator economy. As with any business of this scale, it is natural that we are open to discussions about how we continue to build on our success,” as per the report.

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A Price Tag in the Billions, But No Takers Yet

The New York Times report also revealed citing insiders that the adult-content platform has been planned to be sold for between $1.46 billion and $2.42 billion.

The Adult-Only Reputation That Won’t Go Away

While, an insider told New York Times, “You’re looking to find billionaires and trying to sell it as not an adult content company but just a platform like X that allows adult content. But I think most people now view OnlyFans as an adult content company,” as quoted in the report.Though, Tim Stokely started the site in 2016 as a space for musicians and influencers, Radvinsky after buying it, removed all restrictions on pornographic content, according to the report. However, in 2021, he tried to ban sexually explicit content, but the decision was reversed within days, as per the New York Times.

FAQs

Why is it hard to sell?
Buyers are hesitant due to the adult content label, even though the platform is profitable.

Who owns OnlyFans?
Leonid Radvinsky, is a 40-year-old American entrepreneur, who owns the platform through his company Fenix International, as per the New York Times.

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