Billionaire and owner of the adult content platform OnlyFans, Leonid Radvinsky, has passed away at the age of 43. In an official statement, the company confirmed the news, saying that he passed away after a long battle with cancer. "It is with deep sorrow that we announce the passing of Leo Radvinsky. He passed away peacefully," the statement said, while the family requested privacy during this difficult time.
According to Bloomberg, Radvinsky bought a majority stake in OnlyFans in 2018 and played a key role in transforming the platform into one of the most influential digital business models in the adult content industry. The platform allows content creators to directly charge users for access to their material.
His death raises questions about the future ownership of the company, which is considered one of the most controversial user-generated content services since the emergence of Facebook.
OnlyFans was founded in 2016 by British entrepreneur Guy Stokely and his son Tim Stokely, gaining huge popularity for content that is not allowed on other social networks. The platform saw strong growth during the COVID-19 pandemic.
Most recently, Radvinsky was in talks to sell a 60% stake in the company, in a deal that valued it at about $5.5 billion. A San Francisco-based investment firm had reportedly begun talks to lead the offering, which would combine private equity with about $2 billion in debt financing. As of February, the negotiations were still in the early stages.
