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As we’ve discussed before and will no doubt talk more about in the future, as a direct result of her position as sovereign of the United Kingdom and the Commonwealth, the Queen has a large array of powers at her disposal entirely unique to her. Of these powers is the ability to knight a person she feels is particularly worthy of such an honor.

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Sources:

https://www.bbc.co.uk/news/uk11990088
http://royalcentral.co.uk/blogs/insig...
https://www.awardsintelligence.co.uk/...
https://www.awardsintelligence.co.uk/...
https://www.rct.uk/collection/619/the...
http://mentalfloss.com/article/21056/...
https://en.wikipedia.org/wiki/Order_o...
https://www.thesun.co.uk/news/2363648...
https://www.gov.uk/honours/typesofh...
https://en.wikipedia.org/wiki/Knight
https://www.cbsnews.com/news/celebsw...
https://www.britannica.com/topic/The...