A term coined by Cindy B. Gilbert to describe a broke man attempting to be a sugar daddy.
(Other artificial sweetener brands suffice as well for this term.)
Jessica: Hey did you here about that gold digger dude Michael's dating?
Cindy: Ha, Michael having a bae.. funny...but seriously bro, no worries there, Michael is such a Splenda Daddy.
Jessica: Whaddya' mean?
Cindy: Everyone knows Michael's broke af.