London, 9 September 2024 (FinanceFlashNews)– Leonid Radvinsky, the owner of OnlyFans, has awarded himself a substantial $631 million over nearly two years as the platform’s user base continues to expand. This payout reflects the impressive growth of the platform, which saw a 29% increase in new content creators and over 50 million new “fans” in the past year (BBC News).
Fenix International, the parent company of OnlyFans, reported pre-tax profits of $658 million for the year ending November 2023. The platform, known for its wide range of content including adult entertainment, fitness, music, and comedy, has also launched a pornography-free TV streaming service.
Radvinsky’s earnings included $472 million in dividends up to November 2023, with an additional $159 million received in the subsequent months. This follows a $338 million payout in 2022, bringing his total compensation to nearly $1 billion over the past three years. Forbes estimates his net worth at $3.8 billion.
The platform’s significant revenue is generated with a minimal staff of just 41 people. Despite its success, OnlyFans is under scrutiny for its efforts to prevent minors from accessing explicit content, with Regulator Ofcom expressing concerns about the site’s age verification processes.ň
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