In terms of philanthropy, Riley and his wife are actively involved in various charitable causes. They established the Miami HEAT Family Foundation, which supports community organizations and funds youth programs in South Florida. Riley has also been a long-time supporter of the boys & girls Clubs of America.

Despite his intense competitive nature on the court, those who know Riley personally often describe him as thoughtful and introspective. He is known to be an avid reader, particularly of military history and leadership books, which often inform his coaching and management philosophies.