Acronym for OLD QUEER WITH MONEY. Targets for young gay males and gay hustlers who want the Old Queer's Money and will do what it takes sexually to get it. The Old Queers are usually perceived to be easy marks, are submissive or bottoms. They often have toupees, fake and bake tans, get bad plastic surgeries or too much botox in trying to retain their fleeting and far gone youthful looks, but the OQWM love and crave the attention of the 20-something gayboys. Often synonymous with OLD QUEEN WITH MONEY.
I heard these 3 guys at the gaybar talking about this OQWM. They were going to drop by his house the next day, hang out at the pool, have some drinks and the OQ was boing to pay to blow them all.