Rami Ranger, who has given £1.5m to the Tory party over his lifetime, lost the honour yesterday after months of revelations about his personal behaviour.
The announcement comes weeks after the Conservatives reinstated his party affiliation in the Lords, having removed it for just over a year.
Lord Ranger joins a small group of people to have lost their honours, including Paula Vennells, the former Post Office boss, who lost her CBE this year after the Horizon scandal.
Ranger lost his award along with five others, according to the official announcement in the London Gazette. They include the British tech tycoon Lawrence Jones, who was found guilty of rape and sexual assault last year, and Lam Shiu-kum, a former dean of medicine at Hong Kong University, who was jailed for misconduct in public office.
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