It’s the most common way of referring to the Buddha in the EBTs, so I just take it as a conventional title and use the most common word we use in English to refer to the same person, namely “Buddha”.
In cases of ambiguity, I use “Blessed One”, but without any great commitment to it.
I use “Holy One” for Sugata, hoping to hint at the “divine” sounding name (sugati is “Heaven”).
It’s really hard to get all these right, there are so many nuances of background and culture and expectation.
But if we are to get literal with bhagavā, may I suggest “shareholder”?