Microsoft chairman and chief software architect Bill Gates described himself as "humbled and delighted" to receive an honorary knighthood from the Queen.
The Foreign Office stated that the accolade recognises Gates's contributions to improving health and reducing poverty in parts of the Commonwealth and elsewhere in the developing world.
Gates also was recognised for his contribution to enterprise, employment, education and the voluntary sector in the UK.
He received his honorary knighthood in a private ceremony held at Buckingham Palace. Gates was accompanied by his wife Melinda.
"I am humbled and delighted. I am particularly pleased that this honour helps recognise the real heroes our foundation supports to improve health in poor countries," said Gates.
The UK was the first country in which Microsoft set up a subsidiary outside the US.
"I am proud of this special relationship and the role we have helped to play in the development of the UK technology industry," he said.
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