Queen taps Gates for knighthood

Gates, the world's wealthiest man, received the award from the queen in a private ceremony at Buckingham Palace.

He becomes a Knight Commander of the Most Excellent Order of the British Empire, an honor that dates back to 1917, though monarchs have been creating knights for hundreds of years.

"I am humbled and delighted," Gates said in a statement. "I'm particularly pleased that this honor helps recognize the real heroes our foundation supports to improve health in poor countries."

The Bill & Melinda Gates Foundation funds research into infectious diseases and reproductive health, and also has initiatives in the area of education.

Gates also called attention to Microsoft's 23-year history in the United Kingdom. "The U.K. was the first country in which Microsoft set up a subsidiary outside the U.S., and our experience in the U.K. has been significant in shaping our international growth," he said.

Microsoft's British work force totals nearly 2,000 employees. The company also has a research facility in Cambridge, England, the first such laboratory it set up outside the United States.

Britons and citizens of the Commonwealth are entitled to add the title "Sir" in front of their names, but that honor does not extend to other nationalities.

When it was announced last year that Gates was to be knighted, Foreign Secretary Jack Straw paid tribute to him.

"(Gates) is one of the most important business leaders of his age," he said. "Microsoft technology has transformed business practices, and his company has had a profound impact on the British economy."