No, Thailand Elite visa (Privilege Entry Visa) is categorized as a ‘Special Tourist visa’ and it can’t be used to apply for a ‘Work Permit’ in Thailand. In order to legally work in Thailand, you must hold ‘Non-Immigrant B’ which is only granted for those who come to Thailand to work or to conduct business, which is one of the main requirement to apply for Thai Work Permit.
However, this only applies to occupations that required a work permit to legally work in Thailand. Digital nomads, Crypto investors, stock traders, and similar types of jobs can stay in Thailand with a Thailand Elite visa without any problem.