Sugar daddy’s brutally honest smackdown
A seasoned sugar daddy has delivered some brutal words to young women looking for older men to fund their lavish lifestyles but not reciprocate with intimacy, admitting he'd prefer to give the money to starving children in Africa.
Bob, 60, regularly uses the controversial app Sugar Daddy Meet to find and date younger women.
"It's really very simple. I like sexy women," he told the current affairs program.
"Sexy young women with whom I can have a rapport."
Bob has conditions for his sugar babies - sex must be part of the package, he isn't just in it to spend money.
"It's not a charity. No I have a philosophy in life. I sometimes explain it to young women, and they don't always get it," he told the program.
"When a woman says to me, 'Well, I kind of like the money but not give anything in return.' I say, 'Well you're not really a good object of my philanthropy. I prefer to give it to a starving kid in Africa rather than to you.'"
Alex, a junior executive from Melbourne, went on a date with Bob.
In a good month, Alex can earn up to $2500 in gifts and money from sugar daddies.
She's also open about her motivations behind the dates.
"You'd be lying if you said that you're looking for a sugar daddy, but it didn't matter about the money," Alex said.
Brandon Wade, 48, is behind Seeking Arrangement, the first and arguably the biggest Sugar Baby website.
Speaking to 60 Minutes, Mr Wade explained his reasoning behind starting the website.
"I'm saying that if you have the money to attract women by all means, use it," Mr Wade said.
"Much like the guy that has the big muscles or the guy that has the suave looks. Use any means you can to attract the opposite sex."
In March, more than 170,000 student sugar babies were using Seeking Arrangement in Australia earning an average monthly allowance of $3000.
Thousands upon thousands of young girls use Mr Wade's site to help support themselves through university.
And Mr Wade himself has his own "sugar baby", a 22-year-old woman named Zoe. Their age gap is 26 years.
Zoe lives with Mr Wade in his adopted home town of Las Vegas, where the website founder uses the fortune he made from Seeking Arrangement on the 22-year-old.
"She's going to school and she's looking at launching a business for herself so she's constantly thinking about what does she want to do for her own future as well," Mr Wade said.
The Seeking Arrangement founder maintains he's "selling happiness", not a fantasy.
"What happens in most romantic relationships? People beat around the bush. They lie. They project themselves as somebody else that they're not," Mr Wade said.
"I'm not selling a fantasy. I think at the end of the day I'm selling happiness. I'm selling the fact that life is really short, and we're all on Earth for a reason. We want to be happy.
"For some it's about finding love and romance in a way that makes them happy. For others, it's to be surrounded by three, or five, or ten beautiful women, and, and live a really loud life that everyone is envious of.
"Let's stop the bulls**t. Let's cut the crap. Let's focus on what this really is. This really is somebody that's wealthy, and he just wants to find love. And that's what it is."
A large number of women working as sugar babies in Australia admit they do it to help them pay bills.
Melbourne university student Monica said the arrangement helps her "survive through uni".
"I've learnt that what I was making in two weeks working in hospitality, I can make it about three to four hours on a date," she said.
In March, Seeking Arrangement released its list of "Fastest Growing Sugar Baby Schools".
Monash University came out on top with 209 new sign-ups last year, followed by RMIT with 184, University of Sydney with 170 and University of Melbourne with 128.
With the list, the site also claimed more than 177,000 of its 20 million members are Australian university students.
"Students who want to explore bigger cities and the better educations offered in them can't, even with the educational loan program offered in Australia," Seeking Arrangement founder Brandon Wade said in a statement at the time.
"It's a great program, but it does nothing to offset costs while in school."