It sounds like Jack is getting what he wants and doesn't have to pay for it...
The idea of a young woman having a sugar daddy is to exchange favours (usually sexual) with a suitable older man (mostly from a higher social, academic or earning group) for gifts and a certain amount of mentoring regarding behaviour, attitudes, education and so forth.
So far you have had a couple of good dinners which is far less than you would get if you decided to become a professional escort!
It might be he is looking for a trophy wife who he can dominate or he might want a purely sexual relationship and only time will prove which...
Meanwhile I advise you to keep a very open mind and neither believe or disbelieve what he tells you. It is quite natural you will develop feelings for him and my cynicism and experience suggests he is relying on you doing exactly that. I feel such feelings will ultimately be damaging to you...
A wealthy 39 year old man who is successful in business is likely to be very adept at manipulating people and selling himself.
Such skills as being able to "spin" details and facts and make lies seem like the truth and truth seem like lies and display the correct body language and do it all so spontaneously it seems natural are essential and after a while many successful businessmen and politicians hardly know they are doing it (play-acting)!
Text messaging means being able to send a message when it is convenient to you and being able to read the reply when it is convenient. Not everyone is a slave to the mobile phone and prefer to simply use the phone as a tool of communication.
It isn't unlikely someone who has a large work load and many interuptions would leave text messages unanswered for three hours. He might even have his phone on silent and not know...
There are other reasons why he might take a long time to answer.
Because it is part of his manipulation of you...
Because his wife or girlfriend is with him...
Because his children are with him...
I advise you to let your imagination be your guide on this one until you have hard first-hand evidence!
At 19 and quite well educated you no doubt feel yourself to be a mature and sophisticated member of your group. I warn you that you are as a babe in arms in his world!
Next time you meet it will be time to express a wish for a new wristwatch or something and some of that mentoring...
Without those things you might as well be a professional escort (unless you have already become completely infatuated)!
Good luck!