Real-estate CEO David Morton, 75, his wife Doriana Zohil, 64, and their two daughters were shot and bludgeoned during a masked raid on their multimillion-dollar mansion in Toronto on Friday.
Police said armed men wearing ski masks and hoodies broke into the Hyde Park Circle residence at about 3.40 am, a neighbourhood also known for rapper Drake's home.
The intruders fired multiple shots, wounding Morton and one daughter in the leg and striking the other daughter under the arm, according to the Toronto Sun. Zohil was hit with a hammer.
All four were rushed to hospital with serious injuries; two victims sustained life-altering injuries while the other two had non-life-threatening wounds, Toronto Police Inspector Kristy Smith said.
In a statement to the New York Post, Morton described the incident as "horrific," adding that no family should have to endure such trauma in their own home.
Police reported the suspects forced entry, climbed to the second floor and demanded valuables. Two carried handguns and a third a hammer, Smith said, and they fled the scene in an SUV.
Authorities have launched a manhunt for three men, each around 20 years old, describing them as armed and dangerous. The motive remains unclear, and officials noted a recent rise in violent home invasions in affluent Toronto areas.
Mayor Olivia Chow condemned the attack, calling violence unacceptable and urging anyone with information to contact police. CCTV footage from the mansion has been provided to investigators.