Bill Gates attended to a bit of unfinished business Thursday.

Gates, who dropped out of Harvard and co-founded Microsoft Corp. (Charts, Fortune 500) to become the world's richest person, stopped off at his former stomping grounds to collect an honorary law degree.

"We recognize the most illustrious member of the Harvard College class of 1977 never to have graduated from Harvard," said Harvard University Provost Steven Hyman. "It seems high time that his alma mater hand over the diploma."

"I've been waiting for more than 30 years to say this: Dad, I always told you I'd come back and get my degree," Gates, 51, told the crowd, which included his father, also named Bill.

Jobs and Gates share the spotlight
"I'll be changing my job next year, and it will be nice to finally have a college degree on my resume," said Gates in a reference to his plan to shift full time into philanthropy.

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