The mother of three’s profile has risen in recent years after a string of appearances on business-focused television programmes including The Apprentice.
She told The Sun newspaper that at first she thought a call from the Palace was a prankster radio DJ.
A letter informing Mone of the award had been sent to the wrong address and a follow up call questioned whether she was rejected the award.
"She explained a letter had been sent, but I still didn’t believe it,” Mone told The Sun. "I got her number and called back, and it was then it began to sink in. "It turned out they sent the letter to my old address."
Mone gave her reaction to BBC television and you can see a clip on the BBC website.