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CNBC's Deutsch: Perelman Shows New Side in Exclusive Interview

Being brutally honest helped make Ron Perelman the businessman he is today. And it’s a "waste of time" not to be that way, the elusive billionaire dealmaker said in a candid conversation with CNBC’s Donny Deutsch.

During what Deutsch said was Perelman's first-ever TV interview, the man behind cosmetics giant Revlon reflected on how he ran his $20 billion brand.

“In the past, one of the big mistakes I’ve made is leaving managers in place there who think of the business as big as the brand, which it’s not,” Perelman said. “I came to a realization to that and took more of a hands-on role with the current CEO, who is just fabulous.”

The interview will air on “The Big Idea with Donny Deutsch” at 10 pm New York time on Monday.