One who bestows; a person who gives, grants, or confers gifts, honors, or privileges.
From 'bestow' plus the suffix '-er' (from Old English, indicating someone who performs an action). This is one of English's oldest and most productive suffix for creating agent nouns.
The '-er' suffix is so natural in English that we barely think about it—we add it to almost any verb to name the person doing the action (teacher, builder, runner), and this pattern has been part of English since the earliest days.
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