While people online have been arguing back and forth about the ethics of OnlyFans and the perceived increase in the number of young women turning to online sex work, OnlyFans’ owner has, unsurprisingly, been getting rich off other people’s efforts.
It was recently revealed that the site’s owner, Leonid Radvinsky, was paid $338 million, or roughly $1.3 million per day, in dividends after OnlyFans’ parent company, Fenix International, saw its annual profits hit over half a billion dollars. Radvinsky’s net worth is estimated to be more than $2 billion.
The onlyfans owner every single day pic.twitter.com/hNc8Va0hQJ
— Hamz (@CFC_Hamz) August 28, 2023
According to the BBC, more than $5.5 billion was spent on OnlyFans in 2022, up from $4.8 billion in 2021, while the number of creators using the site increased by 47 percent to almost 3.2 million. The number of users rose by 27 percent to roughly 239 million.
OnlyFans says that it only takes a fifth of the payments made on the site, but many creators were still not happy to learn of Radvinsky’s windfall. One tweeted in response to the news, “And we still have chargebacks come out of our pockets. Cool.” Another creator added, “They take 20% of our earnings while they haven’t updated the site in years and everything glitches and malfunctions daily :)”.
And we still have chargebacks come out of our pockets. Cool.
— Megan Daw (@megan__daw) August 29, 2023
They take 20% of our earnings while they haven’t updated the site in years and everything glitches and malfunctions daily ☺️
— Lucas Moreno (@lucasmorenx) August 29, 2023
Subscribers who prefer to support creators directly may opt to tip their favorite creators in addition to paying subscription fees, but OnlyFans receives a cut of those as well — the report by Fenix International stated that for the first time, more than half of the company’s revenue came from non-subscription services like tips and custom content.
Over the past three years, a period in which OnlyFans experienced a boom thanks to the COVID-19 pandemic resulting in an increase in both creators and subscribers joining the platform, Radvinsky has collected almost $900 million in dividends.
It brings whole new meaning to the notion of profiting off someone else’s back.
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