Danny Holmsen, 72, a movie director in the 60s and 70s, of 30 Harvard street, Barangay Socorro, Cubao, suffered head injuries and died almost instantly, police said.
His body was found inside the masters bedroom at the second floor of his home.
Holmsens driver, Norman Francisco Barte, 24, sustained multiple stab wounds in the body and died at the ground floor of the house.
The suspect was identified only as a certain "Jerry," Holmsens houseboy, who fled right after the killing.
Police sources said that the motive was robbery. The bodies were found at about 3 p.m. inside the house by a certain Inocente Gatil.
Investigators said Holmsens cell phone and a still undetermined amount of cash were stolen.
The suspect Jerry had reportedly been under Holmsens employment for only a few months.
Police said that the killer used a blunt object which was repeatedly used on the head of the former director while he was sleeping inside his bedroom.
After taking his cell phone and cash, the suspect rushed downstairs and stabbed Barte on the chest and neck with a kitchen knife before escaping.
The Central Police District is now conducting follow-up operations on the case to determine the suspects whereabouts and other motives. Operatives are also looking into the possibility that other suspects may have been involved.