Paying it Forward: Addressing Society’s Problems Through Philanthropy with Leonid Radvinsky

Philanthropy is a critical aspect of society that has existed in various forms in all cultures and civilizations throughout history. Differing from charity which seeks to alleviate suffering caused by societal problems, philanthropy aims to tackle the root of the problems by eliminating societal issues at their source. In their book “Understanding Philanthropy,” seminal researchers Robert Payton and Michael Moody defined modern philanthropy as “voluntary action for the public good,” emphasizing the fact in its truest sense it is not done for personal gain or even familial benefit. 

As the human race advances, the need for philanthropy has grown with it. While technology has evolved at a breakneck pace, bringing innovations that have changed the course of history and improved the lives of millions, it has also served to expose and even exacerbate prevalent social problems. Globalization and a growing population have only made the problems we face more complex, and challenges such as climate change are time-sensitive in ways that we have never experienced prior. 

While anybody has the ability to engage in philanthropic work per Payton and Moody’s definition, there is no denying that the greater the contribution, the higher the amount of impact that can be made toward a societal problem. For internet entrepreneur Leonid Radvinsky, wealth brings with it the responsibility to influence lasting social change, as well as the privilege to have a hand in shaping the future of the human race. He has stated that he hopes to join those who have signed “The Giving Pledge,” a commitment to donating the majority of their wealth, in the future.

Emigrating to the United States from Ukraine when he was just a child, Radvinsky has built a number of successful online businesses and is today most known as the majority owner of the internet entertainment company OnlyFans. In addition to his career he has also committed a considerable amount of his resources and time to non-profit causes he is passionate about, in particular open source initiatives seeking to facilitate innovation through the shared knowledge open source coding can provide. Below, we explore further the life of Radvinsky, as well as the ways in which philanthropy can be used by those in positions of high wealth to drive societal change.

About Leonid Radvinksy 

After arriving in the United States from Ukraine as a child, Radvinsky and his family settled in Chicago, Illinois. Although assimilating to a new culture is always challenging, Radvinsky worked hard to adapt to all of the changes and was able to perform well enough in school to be accepted to Northwestern University. He graduated from the college in 2002 with a bachelor of science degree in economics.

It is safe to say that growing up during the emergence of the internet played a hand in helping Leonid adjust to his new life in America. The internet holds a wealth of information with just the click of a button, and even in his teenage years Leo Radvinsky was acutely aware of the value and potential the internet held. At just 17 years old he founded his first business, an internet company that acquired websites throughout the early 2000s. The company generated income in part through clicks on affiliate links on its websites’ pages, an early adaptation of what is today one of the main drivers of revenue on the internet. 

After graduating college, in 2002 Radvinsky established a new internet company and continued to grow the scope and scale of his business. At one point, he owned over 950 domain names, and one website alone earned almost $2 million in annual revenue during the early 2000s. 

In 2018, Radvinsky purchased OnlyFans.com, an internet content subscription service that had been founded two years prior in the United Kingdom. Since then it has experienced substantial growth, rising in popularity in-sync with the growing prevalence of video communication such as streaming and videoconferencing. The coronavirus pandemic only served to further bolster these technologies, and in 2021 the company saw its user base grow by 128 percent and its revenue more than double to $932 million according to its annual report for that year. 

Bloomberg has reported that in 2021 Radvinsky received over $500 million in dividends, and Forbes currently estimates his total net worth to be at $1.1 billion. While these numbers are not confirmed, the websites’ intensive methodology makes for a strong argument toward its accuracy. 

Philanthropic commitments

Noted by Forbes as a self-made billionaire, this in combination Radvinsky’s background as an immigrant to the United States has given him a distinct perspective on the challenges faced by those in lower economic classes at a global level. One of the benefits of philanthropy is that it allows for people who hold these unique perspectives to commit their time and money toward organizations and causes that they believe can make lasting change, many of which may have been overlooked otherwise. 

In light of the current situation abroad, Radvinsky has been dedicated to assisting relief efforts and in 2022 donated over $5 million toward Ukrainian relief funds. He has made contributions toward pervasive issues such as cancer research at the Memorial Sloan Kettering Cancer Center and aid for animal protection at the West Suburban Humane Society in the suburb of Chicago. Additionally, he has championed lesser known causes, donating to the EB Research Partnership which seeks to find a cure for the rare and life-threatening genetic skin disorder Epidermolysis Bullosa that affects children from birth in addition to the Center for Black Innovation which seeks to create talent-rich spaces for the advancement and prosperity of the Black Community in Miami where Radvinsky currently resides. Radvinsky has made sizable donations to the University of Chicago, Northwestern University, University of Miami, Mount Sinai and many other academic institutions focused on cancer research. 

In particular, Radvinsky has indicated through donations that he is passionate about the promotion of open source software. According to Radvinsky, the open source software movement is one of the most important trends on the internet, allowing customers to know how the code works while facilitating the development of the most innovative software. It allows code to be reused and recycled, making it easier to collaborate and achieve goals and facilitating the betterment of society as a result. Leonid has contributed to the FreeBSD Foundation, Software Freedom Conservancy and the OpenBSD Foundation in pursuit of this goal. 

In his book “The Gospel of Wealth”, Andrew Carnegie famously wrote “the man who dies…rich dies disgraced.” This belief has been carried on by philanthropists such as Radvinsky today, who have committed to utilizing their wealth toward the betterment of society. The etymology of the word philanthropy comes from the Greek words “philos” and “anthropos,” which respectively mean loving and humankind. While Oxford languages defines philanthropy as “the desire to promote the welfare of others, expressed especially by the generous donation of money to good causes,” at its core philanthropy is an expression of love for humankind.