(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.
A daddy (straight or gay older male with fatherlike attributes and/or likes to sleep with younger individuals) that claims to provide financial support for love and attention, however does not meet the financial prerequisites to provide substantial sugar
My sugar daddy lost his job, thank god for his savings account so at least he can be Splenda daddy for now
a younger version of a sugar daddy, a wanna-be sugar daddy, a sugar daddy in the making, or a guy who's not quite a sugar daddy b/c of lack of disposable income
girl #1 "So, he's flying you all the way to Miami just to see him for the weekend?"
girl #2 "Yeah, can you believe it? But he's not flying me first class..."
girl #3 "So what? It's gotta be nice having a splenda daddy!"
She was all excited that she had finally landed a Sugar Daddy until he rolled up in his Accord. It was then she realized she had landed a SplendaDaddy, instead.