Mysterious Billionaire Behind OnlyFans Empire In Talks To Sell The Site For $8 Billion: Report

Leonid Radvinsky, the elusive billionaire behind OnlyFans, is reportedly negotiating an $8 billion sale of the controversial yet highly profitable subscription platform, despite ongoing concerns about its adult content. Mr Radvinsky, sole owner of OnlyFans' parent company, Fenix International, was in discussions with a group led by Los Angeles-based Forest Road Company. However, those talks have stalled, and Mr Radvinsky is now engaging with another unnamed bidder seen as a stronger contender, per the Wall Street Journal.

Last month, The Post reported that Leo Radvinsky quietly put OnlyFans on the market but struggled to attract buyers due to its controversial business model. Despite this, the billionaire who reaped nearly $1.3 billion in dividends from 2019 to early 2024 per British filings is pressing forward. Sources told the Wall Street Journal that he has recently enlisted banks and potential buyers, aiming to sell OnlyFans for up to $8 billion.

Notably, OnlyFans is a cultural phenomenon and financial powerhouse driven by its explicit content and creator-driven model. At 43, the enigmatic owner Leo Radvinsky has never granted public interviews, seldom attends industry events, and has left only one widely circulated photo online. Even those who've worked with him are silenced by stringent nondisclosure agreements.

Mr Radvinsky's official website portrays him as a company builder, angel investor, and aspiring helicopter pilot, omitting any mention of OnlyFans, despite it being the cornerstone of his estimated $4 billion fortune. A potential $8 billion sale of OnlyFans would solidify Radvinsky's status as one of the world's wealthiest and most elusive tech entrepreneurs, likely amplifying his philanthropic goals, per the WSJ.

Leo Radvinsky, a US citizen who immigrated to Chicago from Ukraine as a child, studied economics at Northwestern University. He purchased OnlyFans in 2019. According to public records, he received $472 million in dividends from OnlyFans in the fiscal year ending November 2023. Between 2021 and 2023, his total payouts from Fenix International Ltd. exceeded $1 billion, based on UK financial filings.

OnlyFans gained massive popularity during the COVID pandemic. In 2021, Mr Radvinsky temporarily banned explicit content due to financial institutions' hesitation to process related payments, but reversed the decision shortly after. The platform relies on Section 230 of the Communications Decency Act for legal protection, claiming it's not responsible for user-generated content since it doesn't produce the material itself. This protection applies to the platform's 4 million creators.