I’m sure that many readers have aspirations to become a millionaire one day.
And while a lucky few may achieve this through buying a lottery ticket on the Jumbo Interactive Ltd (ASX: JIN) operated Oz Lotteries website, the odds are certainly not in your favour.
Another way to do this is through investing in the share market.
There are a number of shares that have made regular investors millionaires over the last decade or two.
One popular example is Altium Limited (ASX: ALU). Over the last 10 years the design software provider’s shares have generated a total return of 65.1% per annum. This means that a single $7,000 investment in 2010 would now be worth just over $1 million.
That was the 2010s, which shares are the potential millionaire makers of the 2020s? Whilst it is impossible to say that they will follow Altium’s lead, I think the three listed below have significant potential.
Nearmap Ltd (ASX: NEA)
Nearmap is a leading aerial imagery technology and location data company. I believe it has enormous potential and could generate very strong returns for investors over the next decade. This is due to its high quality technology, the cost savings it offers, and its significant global market opportunity.
Paradigm Biopharmaceuticals Ltd (ASX: PAR)
Paradigm is an exciting biopharmaceutical company worth watching closely. Its very promising ZILOSUL drug is the repurposing of Pentosan Polysulfate Sodium for the treatment of osteoarthritis. This is a massive market that will only get bigger as populations age. At present there are an estimated 31 million+ osteoarthritis sufferers in the United States. If its trials are a success, ZILOSUL could be a real cash cow for Paradigm.
Serko Ltd (ASX: SKO)
Serko is a fast-growing technology company with a focus on developing innovative solutions to address the challenges of corporate travel and expense management. It is a market leader in its category and has over 6,000 corporations and travel management companies using its platform. As of its last update, over US$4.5 billion of transactions were going through Serko’s platforms on an annual basis.
And finally, here are a few more highly rated ASX shares that have been tipped to smash the market in the 2020s.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Serko Ltd. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Jumbo Interactive Limited and Serko Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.