The victim was returning to his home in Innsbruck late last night when he was surprised by the two men, who proceeded to commit a brutal robbery.
They handcuffed him, and tried to force him to open his safe. When the man refused, he was stabbed repeatedly.
Despite his wounds, the man still refused to open the safe, so the burglars took it with them.
Police describe the man as being in a state of massive shock. He is now receiving treatment for his injuries in hospital.
A manhunt for the robbers has begun. They were described by police as wearing camouflage-style clothing.