Etymology
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sugar daddy (n.)

also sugar-daddy, "elderly man who lavishes gifts on a young woman" [OED], 1926, from sugar + daddy.

updated on December 27, 2013

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Definitions of sugar daddy from WordNet

sugar daddy (n.)
a wealthy older man who gives a young person expensive gifts in return for friendship or intimacy;
Etymologies are not definitions. From wordnet.princeton.edu, not affiliated with etymonline.