Leonid Radvinsky, the secretive billionaire behind OnlyFans, is reportedly working toward selling the popular content platform for as much as $8 billion, despite ongoing debates over its adult-focused business.

According to the Wall Street Journal, Mr Radvinsky was recently in talks with the Forest Road Company, a firm based in Los Angeles, but those negotiations have since stalled. Now, he's said to be in discussions with another potential buyer, one that sources describe as a stronger candidate.

In June, The New York Post reported that Radvinsky had quietly put OnlyFans up for sale. However, his efforts faced challenges as some potential buyers hesitated because of the site’s adult content model. Still, the billionaire is pushing ahead.

Sources told WSJ that Radvinsky has hired investment banks and reached out to possible buyers, hoping to finalise a deal that values OnlyFans at up to $8 billion.

Who is Leonid Radvinsky?

At 43 years old, Leonid Radvinsky is the sole owner of OnlyFans' parent company, Fenix International Ltd. He bought the platform in 2019 and helped grow it into one of the most profitable content subscription services in the world.

He is famously private, rarely makes public appearances, and has never given an interview. Only one photo of him is widely available online, and many people who have worked with him are bound by strict nondisclosure agreements.

On his personal website, Radvinsky describes himself as a company builder, angel investor, and aspiring helicopter pilot. There’s no mention of OnlyFans, even though the platform is responsible for most of his estimated $4 billion fortune.

How much has he earned from OnlyFans?

According to financial records from the UK, Radvinsky collected $472 million in dividends from OnlyFans in the fiscal year ending November 2023. Between 2021 and 2023, he earned more than $1 billion in total payouts from Fenix International.

From 2019 to early 2024, he is said to have made nearly $1.3 billion in dividends.

OnlyFans became wildly popular during the COVID-19 pandemic, with millions of users turning to the platform for income and entertainment. Its business model is built around content created and uploaded by its users, especially adult content.

In 2021, the company announced a short-lived ban on explicit material due to concerns from banks and payment processors. That decision was quickly reversed after backlash from both creators and users.

The platform relies on Section 230 of the Communications Decency Act, which protects websites from legal responsibility for content posted by users. This legal protection extends to OnlyFans’ more than 4 million creators worldwide.