The luxury home in the chic seaside village of Marstrand on Sweden’s west coast was almost completely destroyed in the attack.
Peter Hjörne, who along with his daughters, holds a 74 percent stake of media concern Stampen AB, was at his home in Gothenburg at the time.
Stampen AB owns, among other things, the Göteborgs-Posten daily, Sweden’s second largest morning newspaper.
“I was awoken by neighbours who called and set that it was alight,” Hjörne told Göteborgs-Posten. “Naturally we are both sad and shocked.”
The upper floor of the old wooden house was completely destroyed in the fire and the floor below is reported to have serious smoke and water damage.
Peter Hjörne had no clear picture of what could have caused the fire and as soon as the embers have cooled police technicians will inspect the site.
“We have no knowledge of any threats towards the family,” said police spokesperson Björ Blixter to the TT news agency.
The house is currently cordoned off and police report that they have opened an investigation into suspected arson.
“A preliminary investigation has been opened and the classification is suspected arson,” said Robert Edh at Västergötaland police.
Two other properties in the county were reported to have been in flames on Friday night, in Gullspång and Kungälv.
The causes of the two fires has not yet been established, although routine investigations have been opened over suspected arson.