The other day i was discussing about this community with my friends. One of my friend happen to know one of the top rankers in reputation league and he was claiming that he being paid by the Stack Overflow guys for answering questions. Is this true?
No. Some of the SE employees (who work on the software which runs the Stack Exchange network) also happen to answer questions and have a high reputation, but they get paid as developers, not for answering the questions themselves.
Maybe he was getting confused with that.
Related: Why do you post to Stack Overflow?