By Charlotte Alter
October 6, 2014

Queen Elizabeth II has made former New York City Mayor Michael Bloomberg an “honorary” knight of the British realm, in recognition of his work strengthening the relationship between the U.S. and the U.K.

“As Mayor of New York, as a businessman, and as a philanthropist, Mike Bloomberg has played a key role in forging transatlantic diplomatic, economic, and cultural ties,” said British Ambassador Sir Peter Westmacott in a statement.

He also credited Bloomberg with helping to create thousands of jobs in the UK by making London the European headquarters of Bloomberg LLP, and noted that the multi-billionaire has committed more than £42.4 million ($67.8 million) of philanthropic contributions in in the U.K.

Bloomberg accepted the honorary title, saying he considers Britain a “second home.”

The former mayor isn’t the first American to receive an honorary knighthood (only British nationals can receive the full honor). His predecessor, Rudy Giuliani, also accepted the honor, as did Steven Spielberg and Bill Gates. Hollywood star Angelina Jolie was made an honorary dame in July.

Sadly, Bloomberg will not get a sword, chain mail, or the handkerchief of a teary damsel. But thanks to him, swords are probably banned in New York City, anyway.

Write to Charlotte Alter at charlotte.alter@time.com.

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