The contemporary California-set game went on sale Tuesday.
The previous record holder was Activision Blizzard Inc.'s "Call of Duty: Black Ops II," which brought in $500 million in its first 24 hours of its November 2012 release and a total of $1 billion in 15 days.
"All of us at Take-Two are thrilled with the initial response to 'Grand Theft Auto V,'" Strauss Zelnick, chairman and chief executive of Take-Two, the parent company of Rockstar Games, told the Times.
Detractors of the "Grand Theft Auto" franchise, which is rated M for mature audiences, have criticized the games for depicting gratuitous crime and violence.
Business Week said Rockstar Games spent a reported $115 million to developing "GTAV" and another $150 million to market it.
The publication said the 'GTAV' release comes as the "eight-year reign of the Xbox 360 and PlayStation 3" enters its final stage, with next-generation technology due to arrive in 2014 -- shoving current console technology into obscurity.