British millionaire Mark Smith, 61, tragically drowned in Barbados on Sunday, after being dragged out to sea by a strong rip current. The businessman recently moved to Barbados where he planned to start a new life after splitting with his wife.

Smith was reportedly spotted by locals as he was on his way to the water. Some tried to warn him to stay away as the current was unsafe for a swim. However, he ignored the warnings and paid the price.

According to The Sun, a witness said, "I tell [sic] that man do not go in the sea. We screamed 'do not go in the water'. The man walked in the sea still and the rip current dragged him out."

Soon enough, Smith was caught by the current and had trouble staying afloat. "When he realised he was in difficulty he was hollering for help, but nobody could save him. Common sense would tell you, don't go in there," said the local.

The man was reportedly hit by a large wave and failed to resurface. At this point at around 8:30 am local time on Sunday, a frantic rescue operation was launched. His body was later found floating in the ocean less than a kilometre off the coast of St. James the following day.

The father-of-two was reportedly identified by "a close friend and business associate." His ex-wife, Debbie, refused to comment on the incident.

Smith is believed to have been living with a new partner in Barbados after his split from Debbie. He used to reside in a £1.2million home in Sheffield, South Yorks, before finally deciding to live in the tropical paradise of Barbados. However, the tragedy cut his new life short.

Smith built his fortune through construction businesses. His assets reportedly stack up to around £6.8million. Sadly, his sunbathing days and his opportunity to enjoy his fortune are now over, after simply failing to listen to the warnings of locals.

Barbados is known for its gorgeous beaches AFP / Jewel SAMAD