Leonid Radvinsky bought OnlyFans after building an empire of porn websites. Now he wants to join the ranks of the super-rich and give away his fortune.

Share to friends
Photo of Leonid Radvinsky
Leonid Radvinsky bought OnlyFans in 2018 and has since collected greater than $500 million in dividends.

  • Leonid Radvinsky bought OnlyFans, an grownup content material platform, in 2018 for an undisclosed sum.
  • He’s amassed an estimated $1.2 billion fortune from webcam porn and grownup websites.
  • Radvinsky has earned greater than $500 million from OnlyFans since 2020.

Leonid Radvinsky is much from a family title. The Ukrainian-American has lengthy operated in the shadows of the porn business, however edged into the highlight in 2018 when he bought OnlyFans.

The subscription-based grownup content material platform was based in the UK by Tim Stokely in 2016 earlier than Radvinsky took management.

It seems to have proved a profitable funding. OnlyFans grew exponentially throughout the pandemic, with its person base greater than doubling to 188 million final yr, its annual report says. The platform takes a 20% minimize of creators’ revenues and Radvinsky has raked in more than $500 million since 2020.

OnlyFans will not be his first foray into the world of grownup content material. After emigrating with his household from Ukraine to Chicago, he arrange an organization known as Cybertania at the age of 17. It ran a quantity of web sites in the early 2000s that marketed “hacked” and “illegal” passwords to porn websites, Forbes reported final yr.

READ ALSO  Watch insane screaming match as neighbour cuts down shared fence in petty row that has raged on for five years

Password Universe, one of the web sites, included a hyperlink to a website that marketed greater than 10,000 “illegal pre-teen passwords” in 2000. Another, Ultra Passwords, claimed to hyperlink to “the hottest bestiality site on the web,” in accordance to Forbes.

There wasn’t any proof suggesting the websites truly linked to unlawful content material, per Forbes, nevertheless it appeared to be a approach to generate revenue from the affiliate hyperlinks when customers clicked on them.

Radvinsky’s subsequent enterprise got here in 2002 when he arrange MyFreeCams, a porn website that featured “models” who received bare and supplied sexual performances on webcams. By 2010, his website had greater than 100,000 fashions and greater than 5 million members, in accordance to grownup business information website XBiz.

Radvinsky, 40, graduated from Northwestern University in 2002 with a level in economics and continued to construct his empire by snapping up different porn-related domains equivalent to ultraxxxpasswords.com.

Ultra Passwords, which trademark submitting records present was described as an on-line “bulletin board” of passwords for grownup websites, pulled in $1.8 million a yr in income in the 2000s, reported Forensic News, an investigative journalism website.

Radvinsky continued to purchase extra porn-related domains. He owned at the very least 950 together with URLs equivalent to sexhackers.com and camwhores.com till 2014, area title records present.

READ ALSO  Nike likely to see biggest boost in the aftermath of Adidas cutting ties with Kanye West, footwear analyst says

As of April, Forbes estimated his web value to be $1.2 billion, with belongings together with a mansion in Florida and a penthouse condo in Chicago.

Little is thought about Radvinsky’s private life or actions aside from what he has disclosed on his personal website, although it reveals he has fingers in lots of pies. He helps open-source software program platforms and is an lively philanthropist and angel investor.

Radvinsky donated $5 million to Ukraine reduction efforts earlier this yr in addition to giving funds to a most cancers charity, animal welfare group, and a pores and skin dysfunction analysis fund.

He has invested in the Israeli software program developer B4X, and backed the social community software program creator Pleroma. Through his enterprise capital fund known as Leo, Radvinsky gives investments of up to $1 million to firm founders.

Radvinsky additionally wants to turn into a helicopter pilot. He’s notched up 95 flight hours and is an element of a staff that runs a helicopter facility known as Vertiport in downtown Chicago.

Meanwhile, he’s aiming to turn into wealthy sufficient to “someday be able to signal The Giving Pledge“, in accordance to his website. The list of super-rich people who’ve promised to donate most of their fortunes to charitable ventures embody Bill Gates, Warren Buffett and MacKenzie Scott.

READ ALSO  Ukraine has taken delivery of its first mine-clearing machine, which was made by a British company and cost almost $500,000

These lofty heights are all far from the world of grownup leisure, which has given Radvinsky a couple of authorized complications over the years.

His first firm, Cybertania, was sued by Microsoft in 2004 for allegedly sending “millions” of unlawful and misleading emails to customers of Hotmail, its e mail service. The lawsuit claimed emails have been “falsely labeled” as being despatched by Amazon, however Forbes reported that Radvinsky denied all the allegations and that the case was settled out of court docket.

Another lawsuit filed by OnlyFans creators towards Radvinsky and Meta in February claimed that he and OnlyFans bribed executives at Meta to blacklist content material creators who labored with rivals and put them on an worldwide database, BBC News reported. A spokesperson instructed the BBC at the time that the claims had no benefit and Meta additionally denied the allegations.

Lawyers representing OnlyFans filed a motion to dismiss the lawsuit in October arguing that it lacked a “reasonable evidentiary basis” because it relied upon nameless sources and emails. The case is ongoing.

OnlyFans declined to remark when contacted by Insider.

Read the unique article on Business Insider

Go to Source