Actually, since he’s American, he’ll be “Bill Gates KBE” (which stands for “Knight Commander of the British Empire”). Full Story.
So let’s see here…If I remember correctly, he’s in the same company as a gay/bi man (Elton John), a fruit cake (Ringo Starr has been knighted, if I remember correctly), a speed demon (Roger Banister) and a pure genius (Tim Berners Lee). That’d be a fun party.