Police are hunting three men after jewellery said to be worth £50m was stolen from the home of Tamara Ecclestone, just hours after she left the UK for her Christmas holidays.
Security guards at Ms Ecclestone's London home called police when they spotted three men in the property on Friday evening.
But the suspects were gone before officers arrived.
Ms Ecclestone, the daughter of ex-F1 chief Bernie Ecclestone, reportedly had all her jewellery stolen during the raid on her Hyde Park home, which she shares with her husband, Jay Rutland, and five-year-old daughter.
According to the Sun, thieves broke into her home via the garden, then gained access to safes that were hidden in her master bedroom.
The newspaper added that the thieves ran off with precious rings and earrings, as well as a Cartier bangle worth £80,000, which was given to the heiress as a wedding present.
According to MailOnline, her 89-year-old father suggested it may have been an "inside job".
However, Mr Ecclestone told Sky News he did not say that.
An extensive search of the property and grounds has been carried out by officers from the Metropolitan Police and a dog unit.
A spokesman for Ms Ecclestone said: "I can sadly confirm there has been a home invasion. Internal security are co-operating with police in this matter.
"Tamara and family are well but obviously angry and shaken by the incident."
Officers have said this was an "isolated burglary". They also said the suspects had left the scene when they were called and they are keeping an "open mind" on lines of enquiry.
Detective Sergeant Matthew Pountney said: "Police were called by security within the building to three males being present inside the property and a fast-paced investigation is underway to locate the suspects and missing items."
A spokesperson for the Metropolitan Police said: "Police were called to a residential property in Palace Green, W8, at 11.11pm on Friday 13 December to reports of a burglary.
"Officers attended. It was reported that an amount of high value jewellery had been stolen."
No one has been arrested. CCTV has been taken from the property and is being reviewed.
The heiress' home was thought to be one of the most secure in the country, and sits in a private road close to Kensington Palace and a number of foreign embassies.
If anyone has information that could help in investigations they are urged to call the police on 101 quoting reference 8786/13DEC19.