Mizrahi is the senior partner in the B. Arnon – S. Mizrahi law office, and specializes in traffic violation cases. In 2006, he defended the prominent attorney Dori Klagsbald, in a high-profile case of manslaughter, following the death of two, a mother and child, that were killed by Klagsbald's vehicle.
Mizrahi was appointed the chairman of the Maccabi Tel Avivbasketball club in 1969. In the wake of the club's financial problems, he introduced various strategies to rescue Maccabi from bankruptcy, such as selling tickets for Maccabi games, which had previously been free. Mizrahi realized that in order to secure Maccabi's dominance in the Israeli Super League, it would have to sign American players. Since he became the club's chairman in 1969, Maccabi has won 44 Israeli Super Leaguechampionships, winning the league's title in all but seven seasons. The club has also won 36 Israeli State Cup and 7 Israeli League Cup titles during his tenure. The club also won the Adriatic League championship, with Mizrahi running the club. However, Maccabi's main achievement during his time as the club's chairman, includes the winning of 6 top-tier level European-wide titles, as they won the EuroLeague championship 5 times, and also the FIBA SuproLeague championship. Mizrahi was at one time accused by rival clubs of failing to make the Israeli Super League more competitive, by having plans to implement payment limits to players. However, Mizrahi agreed to several new league rules which were meant to weaken Maccabi, such as the Brisker Rule, which limits the number of foreign players every team can sign, and the implementation of a Final Four format, instead of a best-of-five playoff series system, among other rule changes.
In 2007, Mizrahi was chosen by Time magazine, as one of 50 best sport managers in the world.
In 2011, he was awarded the Israel Prize for sports, for his long-time contribution to Maccabi Tel Aviv. Although this award was contested, it was upheld by the Supreme Court of Israel.
