London: The owner of the OnlyFans streaming site, Leonid Radvinsky, has died at the age of 43 after a long battle with cancer, the company announced on Monday. The billionaire Ukrainian-American entrepreneur bought Fenix International Limited, the company that owns the adult content site, in 2018 and had been a director and majority shareholder since then.
According to Ghana News Agency, a spokesperson for OnlyFans expressed deep sorrow over Radvinsky's passing, stating, "We are deeply saddened to announce the death of Leo Radvinsky. Leo passed away peacefully after a long battle with cancer. His family have requested privacy at this difficult time." Radvinsky's acquisition of OnlyFans followed just two years after the site was launched by British father and son, Guy and Tim Stokely.
The firm behind OnlyFans, which is based in the United Kingdom, has paid substantial dividends to Radvinsky since he acquired the company, with a record $701 million paid out in 2024 as the streaming site saw user numbers jump by almost a quarter to 377.5 million globally. The company, headquartered and taxed in the UK, generates the majority of its revenue from the US market.
Radvinsky, who was born in Ukraine and grew up in Chicago, had reportedly been in discussions to sell a majority stake in the site. Recent conversations were believed to have been held with investment firm Architect Capital, valuing the service at approximately $5.5 billion, including debt.
The most recent Companies House accounts indicate that OnlyFans saw its revenues grow by 9% to $1.41 billion in 2024 compared to the previous year, contributing to a 4% increase in pre-tax profits, totaling $683.6 million. The platform received about $7.2 billion from subscribers over the year, returning $5.8 billion to content creators.
OnlyFans reported that the total number of creator accounts grew by 13% to 4.6 million, as more individuals used the platform as a means to earn a living. The improved financial performance resulted in significant cash benefits for Radvinsky, with OnlyFans paying $497 million in dividends to Radvinsky's Fenix International in 2024, along with an additional $204 million in dividends between December and April.
Radvinsky had reportedly transferred his shares in Fenix International to the LR Fenix Trust in late 2024. He also operated a Florida-based venture capital fund named Leo, founded in 2009 to invest in tech firms.