Srivaddhanaprabha was born into a Thai Chinese family.

Vichai Srivaddhanaprabha (Thai: วิชัย ศรีวัฒนประภา), formerly Vichai Raksriaksorn (Thai: วิชัย รักศรีอักษร), (born 3 April 1957) is a Thai billionaire businessman, founder and CEO of King Power Duty Free.

Vichai purchased English football club Leicester City in August 2010 following a three-year shirt sponsorship deal.

On 10 February 2011, he was named chairman of Leicester City while continuing as owner. His son, Aiyawatt Srivaddhanaprabha, is vice-chairman.