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1. A wealthy, usually older man who gives money or gifts to a younger person in return for sexual favors or companionship.
2. A wealthy male benefactor to a charity or other cause.
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, usu. middle-aged man who spends freely on a young woman in return for her companionship or for intimacy.