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"Of course I'm sad. I'm very sad," he said.
"In any case, in the years I've been president, I've won more than anybody else in the world - in international championships, that is."
Milan legend Paolo Maldini stated that the club was more to Berlusconi than just a business venture.
"It will have been a very painful decision for Berlusconi even if stepping down as president does not mean abandoning the team completely," said Maldini.
"I am sure he will always be close to us. For Berlusconi, Milan is not a company to make money but an affair of the heart."