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BUSINESS
In less than a decade, OnlyFans has emerged as a world-popular subscription-based content platform, which is quite controversial yet highly profitable. But Leonid Radvinsky, the Ukrainian-American billionaire behind the enormous online empire, remains a mystery. Read on to know more about him.
In less than a decade, OnlyFans has emerged as a world-popular subscription-based content platform, which is quite controversial yet highly profitable. But Leonid Radvinsky, the Ukrainian-American billionaire behind the enormous online empire, remains a mystery. Radvinsky, the sole owner of OnlyFans' parent company, Fenix International, is currently in talks with an unnamed party to sell the platform, according to a report by The Wall Street Journal. Radvinsky has set a high aim, targeting a sale price of up to USD 8 billion or over Rs 68,000 crore. The Wall Street Journal has reported citing sources that Radvinsky recently enlisted banks and potential buyers, hoping to close the sale deal.
Bought OnlyFans in 2019
Radvinsky, a US citizen who had moved to Chicago as a child, studied economics at Northwestern University in Illinois state. He purchased OnlyFans -- founded by British entrepreneur Tim Stokely -- in 2019. Aged 43, the elusive Radvinsky has never given public interviews, rarely goes to industry events, and has only one widely-circulated photo of himself online. Even people who have worked with him are silenced by stringent nondisclosure pacts. The billionaire's official website describes him as a company builder, angel investor, and aspiring helicopter pilot, with no mention of OnlyFans despite it being the foundation of his estimated USD 4 billion fortune (more than Rs 32,500 crore). If the reported USD 8 billion sale deal materialises, it would strengthen Radvinsky's position as one of the world's wealthiest tech businessmen.
OnlyFans highly popular worldwide
OnlyFans, recognised as a global cultural phenomenon, amassed huge popularity during the coronavirus pandemic. In 2021, Radvinsky had briefly banned explicit content due to financial institutions' reluctance to process related payments, but revoked that move soon after. OnlyFans boasts of a massive user base, with over 400 million total users around the world.