In a move that has raised eyebrows in corporate transparency circles, the parent company of controversial content platform OnlyFans has been quietly registered with UK authorities while keeping its ownership details deliberately obscured.
Fenix International Limited, the entity behind the billion-dollar adult content subscription service, was incorporated at Companies House in December 2022. However, corporate documents reveal the company has taken extraordinary measures to conceal its ultimate ownership structure.
The Corporate Veil
According to filings examined by The Independent, Fenix International's ownership is hidden behind a complex network of US-based holding companies. The registration lists two American corporate entities as shareholders, both registered in Delaware - a state notorious for its business secrecy laws.
This arrangement effectively creates a corporate veil that prevents public identification of the individuals who ultimately control and benefit from the platform's substantial revenue streams.
The Radvinsky Connection
While not explicitly named in the UK filings, Ukrainian-American entrepreneur Leonid Radvinsky is widely acknowledged as the majority owner and controlling force behind OnlyFans. The 42-year-old tech magnate acquired the platform in 2018 and has overseen its meteoric rise to financial success.
The company's recent financial disclosures reveal staggering growth, with Fenix International reporting pre-tax profits of £525 million in 2022 alone, a dramatic increase from the £932,000 recorded just two years earlier.
Transparency Concerns
The registration has sparked concerns among governance experts about the ease with which companies can obscure ownership within the UK system. Despite recent reforms aimed at increasing corporate transparency, loopholes apparently remain that allow foreign entities to maintain anonymity.
Companies House has faced increasing pressure to strengthen its verification processes and ensure accurate ownership information is publicly available. The Fenix International case highlights ongoing challenges in balancing business privacy with public transparency requirements.
The revelation comes at a time when OnlyFans continues to dominate the content subscription market, despite facing ongoing scrutiny over its content moderation policies and business practices.
