Fashion editor Dame Anna Wintour told the King she will not stop working as she removed her trademark sunglasses when she was honoured at an investiture ceremony at Buckingham Palace.
Dame Anna, 75, is best known as the long-serving editor-in-chief of Vogue, a position she has held since 1988.
The Order of the Companions of Honour was founded on June 4 1917 by George V and is limited to 65 members at any one time. Appointments go to those who have made a long-standing contribution to arts, science, medicine or government.
Dame Anna, wearing Alexander McQueen, was asked whether it was true the Princess of Wales was offered global covers with Vogue, said with a smile: “Yeah, I don’t know where those (rumours) have come from, do you?”
“The last time I was here the Queen gave me a medal and we both agreed that we had been doing our job a very long time, and then this morning His Majesty asked me if this meant I was going to stop working and I said firmly, no.”
Dame Anna has also been running the Met Gala since 1995.
Dame Tracey, 61, was honoured with a damehood last year for her services to art.
