Sir Richard, one of the UK’s richest men, was found dead and a woman hurt at his mansion in Dorset.
A man arrested on suspicion of murder after one of the UK’s richest men was found stabbed to death remains in hospital with injuries, police said.
Sir Richard Sutton, 83, was pronounced dead at his mansion near Gillingham, Dorset, at 21:15 BST on Wednesday.
A woman, in her 60s and believed to be his wife, was also stabbed and remains in a critical condition.
Sir Richard and his family’s wealth was valued at £301m in the 2020 Sunday Times Rich List.
Dorset Police said a 34-year-old man who was arrested following the stabbing was continuing to receive hospital treatment for injuries that are not believed to be life-threatening.
The suspect, from Gillingham, and the victims were known to each other. He was arrested after being stopped in a vehicle in Hammersmith, London, and was taken to hospital.
A cordon remains in place at Sir Richard’s Dorset property and police have appealed for information.
Sir Richard, who was number 435 in last year’s Sunday Times Rich List, owned several top hotels and had a large property and farming portfolio.
He owned the freehold of the Sheraton Grand London Park Lane and the Athenaeum Hotel in Mayfair.
A statement from the businessman’s company, Sir Richard Sutton Limited, said staff were “deeply saddened and devastated by the sudden death”.
“Sir Richard was a caring, generous and warm family man, who genuinely regarded those who worked for him as part of his extended family,” it said.
North Dorset Conservative MP Simon Hoare, who was a friend of Sir Richard, said he had received a briefing from Dorset Police and described the death as “deeply awful”.
He said: “He was a charming man, he had a very good sense of humour, he was politically astute and genial.
“It is a huge loss for his family in what is clearly deeply awful circumstances.”
Dorset Police said it received a report at 19:30 on Wednesday raising concerns about the welfare of the occupants of an address in Higher Langham.
Det Insp Simon Huxter, of Dorset Police’s Major Crime Investigation Team (MCIT), said the force is appealing for anyone to come forward who saw or heard anything suspicious.
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