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I'm pretty sure Cliffy B. isn't the best paid. He lives in my city (Epic Games is in Cary, North Carolina, as well), and he gets his car serviced at the same place I do. He's got an E46 M3 with a ton of work done to it, but the car can't have more than 60k in it. He doesn't have any exotics, either. He's pretty well off, but he's definitely not the richest game developer.

Edit: As someone above said, Miyamoto refuses to take more than average developer's pay.