Alhough born into a working-class family with no interest in the arts and known primarily for his attachment to theater and politics, Rice was passionate about Old Master and modern art. His art collection, slowly assembled over the years, included works by Picasso, Braque, Rouault, Leger, Derain, Klee, and Modigliani. He regularly frequented New York's museums, and in his autobiography, wrote of his first trip to Spain and the powerful impact Velazquez had on him and, in Mexico, of enjoying the work of Diego Rivera and the Mexican Muralists, artists who shared his political views. He was close friends with Japanese-American modernist painter Yasuo Kuniyoshi.