A shortened form of the name Theodore, meaning 'gift of God' in Greek.
From Greek Theodoros (Theo- 'God' + -doros 'gift'), the name became commonly shortened to Theo as a casual or informal version used in English-speaking countries.
Theodore was the name of two U.S. Presidents, but 'Theo' has become so popular in modern culture as a standalone name that many people don't realize it started as a nickname—now it stands on its own in the 21st century.
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