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The owner of OnlyFans, Leo Radvinsky, made $338 million from the subscription site last year. The parent company's annual report also shows OnlyFans' creator and user base rose in 2022. AdvertisementAdvertisementThe owner of OnlyFans was paid $338 million in 2022 as the subscription site continued to gain traction with both creators and users. His personal website shows he has a venture capital firm that offers company founders investments up to $1 million. OnlyFans was founded in the UK in 2016 by Tim Stokely before he sold the company Radvinsky two years later.
Persons: OnlyFans, Leo Radvinsky, Radvinsky, He's, Tim Stokely Organizations: Fenix International, Forbes Locations: OnlyFans, webcams
More than 3 million content creators are now signed up to subscription-based platform OnlyFans. CEO Ami Gan said it's identified Latin America and Australia as future growth markets. The company is now setting its sights on Latin America and Australia to further increase its numbers. "We're looking at growth for the business and Latin America is a huge part of that," Gan said. "We're seeing Latin America is a massive growth region for us and see that opportunity for creators to get exposure to a global audience."
OnlyFans lost a battle at Europe's highest court over how much sales tax it should pay. The court ruled it should pay value-added tax on all revenues, and not just its 20% commission. The court sided with the UK tax body and the decision will shape a final ruling by a UK tribunal. Fenix International will likely need to pay sales tax, known as VAT, on all the revenues generated by OnlyFans creators – not just its 20% commission, Reuters reported. The court agreed with HMRC, the UK's tax authority, which told Fenix in April 2020 to pay VAT on revenue it generated between 2017 and 2020.
Leonid Radvinsky bought OnlyFans, an adult content platform, in 2018 for an undisclosed sum. The subscription-based adult content platform was founded in the UK by Tim Stokely in 2016 before Radvinsky took control. OnlyFans is not his first foray into the world of adult content. It ran a number of websites in the early 2000s that marketed "hacked" and "illegal" passwords to porn sites, Forbes reported last year. Radvinsky's next venture came in 2002 when he set up MyFreeCams, a porn site that featured "models" who got naked and offered sexual performances on webcams.
BBC Newsnight reported that child abuse images found on other websites originated on OnlyFans. OnlyFans said the BBC had prevented it from investigating because it didn't hand over evidence. Amrapali Gan, CEO of OnlyFans, told the BBC: "We actively work with law enforcement. We're truly the safest and most inclusive social media platform." The investigator used by Newsnight believed the images were created in the past six months and had OnlyFans watermarks.
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