Vinicius appeared to be in pole position to win the 2024 Ballon d'Or after enjoying a successful 2023-24 campaign with Real Madrid.
The Brazilian scored 24 goals and provided 11 assists in 39 competitive appearances to help Real Madrid win La Liga, the Champions League and the Copa del Rey.
Prior to Monday's ceremony, a leaked list shared on social media suggested that Vinicius was on course to beat Rodri by 54 points.
However, as the day progressed, it emerged that Vinicius was set to finish in second place to Rodri, leading Real Madrid president Florentino Perez to stop the club's delegation from travelling to the ceremony.
Real Madrid release Ballon d'Or statement
Real Madrid released a statement to explain that they would not attend the ceremony in Paris because they do not go where they are "not respected."
The European champions stated that if Vinicius was not the winner then the award should have gone to their right-back Dani Carvajal.
Real Madrid told AFP: "If the award criteria doesn't give it to Vinicius as the winner, then those same criteria should point to Carvajal as the winner.
"As this was not the case, it is clear that Ballon d'Or-UEFA does not respect Real Madrid. And Real Madrid does not go where it is not respected."
Where did Real Madrid's players finish in the Ballon d'Or rankings?
While the focus was been on Vinicius, Real Madrid had a total of six players in the final 30 of the Ballon d'Or list.
Antonio Rudiger and Federico Valverde finished in 22nd and 17th place respectively, while recently retired Toni Kroos was awarded ninth spot.
Carvajal claimed fourth position in the rankings, finishing just behind Jude Bellingham and Vinicius, who achieved third and second place in the final standings.
Real Madrid were also named Men's Club of the Year, while Carlo Ancelotti clinched Men's Coach of the Year after he led the club to a treble last season.