In his spare time he is an avid polo player, and owns the VR Polo Club in Bangkok. Vichai was the President of Ham Polo Club in London from 2008 to 2012. The Thailand Polo Association was founded by Srivaddhanaprabha in August 1998, and given national status as the Thailand Polo association in January 2004.
He is the founder and CEO of King Power Duty Free, an operator of duty-free shops. In December 2009, King Power received the royal warrant from the King of Thailand in a ceremony attended by Raksriaksorn. He is ranked by Forbes magazine as the 7th richest man in Thailand, reportedly worth US$3.3 billion.
Srivaddhanaprabha purchased English football club Leicester City in August 2010 following a three-year shirt sponsorship deal.
In February 2011, he was named chairman of Leicester City while continuing as owner. His son, Aiyawatt Srivaddhanaprabha, is vice-chairman. His Leicester City went on to win the 2015/2016 English Premier League title. Shortly before the 2016-2017 Premier League season Vichai gifted 19 BMW i8s to the players of Leicester City at £100,000 each.
In May 2017, he bought his second football club, OH Leuven in Belgium.