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noun, Informal.
a wealthy, middle-aged man who spends freely on a young woman in return for her companionship or intimacy.
(slang) a rich usually middle-aged or old man who bestows expensive gifts on a young person in return for companionship or sexual favours
A wealthy, usually older man who gives expensive gifts to someone much younger in return for companionship or sexual favors. For example, The aspiring young actress and the sugar daddy are a classic combination in Hollywood. The sugar in this term alludes to the sweetening role of the gifts, and daddy to the age difference between the pair. [ Early 1900s ]


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