He made and lost a fortune in the Victorian land boom of the 1890s, but was able to avoid bankruptcy due to a little-known loophole in the insolvency law of the time which was exploited by his solicitor, Theodor Fink.
As a result of the loophole, Baillieu was able to clear his debts by paying only a tiny fraction of the sum owed, and was able to escape the stigma of bankruptcy.
He was a backbencher for several years, but was promoted to the ministry with the ascension of John Murray as premier, serving as Minister of Public Works and Health.
Towards the end of his political career, Baillieu began to take advantage of the need for lead and zinc that had been made clear as a result of World War I.
Robinson and Sir Colin Fraser to reorganise the Broken Hill Associated Smelters at Port Pirie and brought about the formation and development of EZ Industries in Risdon, Tasmania.
However, he had made substantial contributions to charity; among other things, he founded the Anzac Hostel in Brighton, Victoria as a home for permanently disabled ex-soldiers.