Team Lotus boss Tony Fernandes has been awarded a CBE "for services to promote commercial and educational links" between the United Kingdom and Malaysia.
Fernandes is best known outside Formula 1 as head of AirAsia and founder of its sister airline AirAsia X.
His Tune Group also encompasses international businesses including hotels, telecommunications and finance.
"I'm grateful to Her Majesty Queen Elizabeth II for the honour," said Fernandes.
"It is a recognition of the hard work, determination and effort on the part of all my partners, colleagues and staff in AirAsia, Tune Group and Team Lotus.
"We have a terrific bunch of talented people working with us to make things happen in whatever venture we undertake. This is as much their award as it is mine."