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A rich and powerful type; that’s not applicable to Bob (5)

Ross

I believe the answer is:

nabob

I'm a little stuck... Click here to teach me more about this clue!

'a rich and powerful type' is the definition.
I can't tell whether this defines the answer.

'not applicable to bob' is the wordplay.
'not applicable' becomes 'na' (this could be a standard abbreviation which I don't know about).
'na'+'bob'='NABOB'

'that's' is the link.

Can you help me to learn more?

(Other definitions for nabob that I've seen before include "Wealthy influential person" , "One divining (water)" , "he may be loaded" , "Devotional painting" , "Mogul governor; very rich or important person" .)

I've seen this clue in the Sydney Morning Herald.
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