Crossword Genius

Well-off male like Polyphemus losing heart (7)

Ross

I believe the answer is:

moneyed

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

'well-off' is the definition.
(I've seen this before)

'male like polyphemus losing heart' is the wordplay.
I cannot quite understand how this works, but
'male' could be 'ed' (man's name) and 'ed' is present in the answer.
'like' could be 'y' (similar in meaning) and 'y' is located in the answer.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for moneyed that I've seen before include "Mo' needy? (Anag)" , "flush" , "Having means" , "Well-heeled" , "rolling in it" .)

I've seen this clue in The Independent.
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