A LEADING CEO was fatally stabbed in a horrific knife attack during a party full of teenagers at his upscale mansion, after which police detained a 15-year-old boy.

Authorities reported that Australian businessman Greg Josephson was hosting a sizable gathering of around 30 teens at his Brisbane residence when the fatal stabbing occurred.

The businessman, 58, was the co-founder of youth clothing company Universal Store, which he and his brother Michael created in 1999.

Josephson knew the alleged killer before the two got into an altercation around 8:15pm on Thursday, Queensland police said.

The 15-year-old allegedly used a household item to carry out the attack.

Queensland Police Acting Assistant Commissioner Rhys Wildman stated: “An altercation took place that led to this 58-year-old man tragically losing his life.”

“It’s not a case of carrying knives, it’s unfortunately allotted in a home.”

Police rushed to the house in Clayfield, Australia, and found the CEO critically wounded.

He was later pronounced dead at the scene.

Cops immediately launched a manhunt and were able to locate the teenager two blocks south of Josephson’s home.

The child was charged with murder after being questioned and is currently being held without bail.

Police detective Craig Williams said: “I can confirm that there was a party under way at the house with a number of young persons.”

He explained that most of the teens were completely unaware of the horrifying attack when it happened.

“It was a confusing situation,” Williams added.

A number of teenagers who were at the home during when the knife attack took place are now speaking with police.

Universal Store specializes in trend-led clothing for men and women, with its target audience age being 15 to 34, according to their website.

His company was sold to a consortium of private equity investors in 2018 for $100million.

Josephson had been chief executive of Josephson Holdings Pty Ltd. since 2018, according to his LinkedIn.

He appeared to have kept a relatively low public profile.

Universal Store announced Josephson’s death in a heartbreaking statement.

They said: “We wanted to share the sad news that Greg Josephson, who founded our company and played a significant role until 2018, has recently passed away.

“Our sincere thoughts and condolences are with his family at this very sad time.”

The tragic boss had bought the six-bed, six-bath “five-star” mansion back in 2016 for $1.25million.

The three-storey pad, tucked away in Brisbane’s upmarket Clayfield suburb, was transformed in 2022, according to 7News.

The home is now estimated to be worth a whopping $3.2million.

Josephson had recently listed the luxury property on the market as he planned to move his family north to Noosa.

Horrified neighbors were left in shock after hearing about the high-profile killing.

Some said the party was very quiet before the fatal attack.

One neighbor told the Courier Mail: “It was extremely quiet, I wouldn’t have even known there was a party going on last night.”