Real Dictionary

sugar daddy
A woman's sugar daddy is a rich older man who gives her money and presents in return for her company, affection, and usually a sexual relationship.

sugar daddy in British English
a rich, esp. older, man who lavishes gifts on young women in return for their favors
noun: a rich usually middle-aged or old man who bestows expensive gifts on a young person in return for companionship or sexual favours
noun: a wealthy, middle-aged man who spends freely on a young woman in return for her companionship or intimacy