According to The Telegraph, the man was dishevelled, smelly and dressed like a "tramp" but had come into an inheritance and quickly attracted a crowd when he began giving away bundles of euros.
Apparently much the worse for drink, the British visitor had flown in from Manchester to Palma de Majorca airport earlier on Wednesday, a spokesman for Spain's Interior Ministry said.
After arriving, he began handing out his money. He did not appear to know what he was doing, according to officials.
Airport police were alerted by the crowds flocking around him and intervened for his own sake to escort him to safety.
A spokesman for the Foreign and Commonwealth Office said: "Consular officials were made aware of the case, he was offered consular assistance but given he was not detained and only taken in for his own protection, no assistance was required." (ANI)