I just came home from a night out and was definitely tipsy, I stand outside having a cigaret before bedtime. A stranger comes op to me 2 times asking directions, I try to help him, he takes his phone out and look at Google map, then he hands it to me for me to help him. I accidentally drop it right away.

Now he wants me to pay 260 usd to have it repaired.

Is that fair, I never asked him to give me his phone.

If he would have told me that it was an iPhone 8 and it would cost 260 usd if I dropped it, I would never have helped him.

Why is his expensive lifestyle my problem?

He says it's mostly my fault because I was drunk, but if he knew I was drunk why would he ask me to take his phone?

No, you don't owe him a penny.
By asking a total stranger to hold it is just as much a part of his 'accident' as it would have been if he had dropped it himself.
Plus there's a good chance he was trying to pick you up, and was hoping you'd invite him inside, and knew you were drunk, so that would make it all easier.

No, you don’t have to pay for it. I’m sure you apologized. How would he be able to contact you? Even if he knows where you live, you don’t need to answer the door. He handed you the phone. It’s his fault.

I wouldn't pay him a dime. If you are in a civilized society, then he sues you for damages, and a judge decides whose right or wrong.