Bill Gates, the Microsoft founder and the world's wealthiest man, is to receive an honorary knighthood for "services to global enterprise".
The recommendation that he receive the honour was made by the Chancellor, Gordon Brown. Buckingham Palace is expected to announce it tomorrow, when Mr Gates will speak at a conference on "Advancing Enterprise" organised by Mr Brown.
The controversial software company creator - whose commercial success has led to hatred of him among his competitors - is worth an estimated $40 billion (Â£22 billion). Microsoft is described as the "Evil Empire" by those who resent its grip on the computer industry.
Other Americans to have received the KBE include George Bush, the former president, Rudolph Giuliani, the former mayor of New York, Steven Spielberg, the film director, and Alan Greenspan, the chairman of the US Federal Reserve Bank.
News source: Telegraph.co.uk