Exclusive | OnlyFans billionaire owner quietly looking to cash out but booming smut site is struggling to find buyer: sources
The billionaire owner of OnlyFans has quietly put the booming smut site up for sale — but the London-based company is struggling to find a buyer because of its X-rated business model, The Post has learned.Leonid Radvinsky, a 40-something computer programmer who bought OnlyFans in 2019, is reportedly looking to unload the money-minting platform, three sources close to the situation said — despite profits that have pushed his net worth to $3.8 billion, according to Forbes.A US citizen who, as a child, immigrated to Chicago from Odessa, Ukraine, Radvinsky studied economics at Northwestern University and now lives in a Miami penthouse with his wife, according to a source.He reaped an eye-popping $472 million in dividends from OnlyFans during the fiscal year ended November 2023, according to public records.That’s nearly all of the $485 million in profits generated that year by the company, which is said to have about 40 employees.
From 2021 to 2023, his total payouts ballooned to more than $1 billion from OnlyFans’ holding company, Fenix International Ltd., according to the last-available UK financial filings, first cited by Bloomberg.Radvinsky is the sole owner of Fenix.An OnlyFans spokeswoman confirmed that the company is up for sale.“OnlyFans is a revolutionary platform which continues to lead the creator economy.
As with any business of this scale it is natural that we are open to discussions about how we continue to build on our success,” she told The Post on Wednesday.Despite their tantalizing profits, the filth factor in porn businesses generally limits their price tags to a relatively modest three to five times Ebitda — a closely watched investing metric, a source familiar with the space said.That would peg OnlyFans at between $1.46 billion and $2.42 billion — a stiff premium in the porn sector that makes it tricky to find a deep-pocketed buyer, insiders said.“You’re looking to find billionaires and trying to sell it as not an adult content...