The majority shareholder of OnlyFans, a London-based porn platform with 300 million users, has died after a long battle with cancer, the Financial Times reported, citing the company. He was 43.
“We are deeply saddened to announce the death of Leo Radvinsky. Leo passed away peacefully after a long battle with cancer,” OnlyFans said on March 23. “His family have requested privacy at this difficult time.”
The Ukrainian-American entrepreneur lived in Florida and acquired Fenix International, the company that owns and operates OnlyFans, in 2018.
Since 2024, his shares in the company, which was founded in 2016, have been held in a trust, the Financial Times reported.
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OnlyFans has paid out more than $25bn (shs96.3tn) to creators, and last year it generated $7.2bn (about shs27.7tn) from site users, who pay subscriptions to content creators as well as tips and extra fees for special requests.
At the time of his death, Mr Radvinsky was seeking to sell the company for $8bn (shs30.8tn), according to the British news magazine the Economist.
That eye-catching asking price speaks to the enormous commercial power of adult content online, as well as investors’ interest in a platform with vast reach and unusually high profitability.
OnlyFans’s 300 million users are almost equivalent to nearly a quarter of Africa’s population—or roughly the combined population of Germany, France, the UK and Italy.
The Economist reported that OnlyFans’s operating margin, at around 50%, was higher than the margins of tech giants such as Alphabet, Meta and Microsoft.
“OnlyFans has not only been an enormous financial success. It has transformed how porn is made, shared and consumed online,” the magazine reported.
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It cited the Journal of Sex Research as suggesting that major porn sites get more monthly visitors and page views than Amazon, Netflix or Zoom.
But it is not all smooth sailing for the porn industry. Porn sites have long struggled to make money, with well-known players such as Pornhub allowing more or less anyone to watch videos for free, according to the Economist.
Advertising revenue remains inadequate, as many brands do not want to be associated with adult content.
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