If I'd invested $2,400 in this ASX 200 stock 20 years ago I'd have $1 million today!

If you can pick an excellent growth share then have the discipline to hold it for decades, it's like winning the lottery.

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Buying any S&P/ASX 200 Index (ASX: XJO) stock undoubtedly comes with risks. But if you pick the right one and hold it for a long time, extraordinary riches can come about.

Even though the Australian bourse is famous for its dividend stocks, there are also some ASX growth shares that have made many investors pretty wealthy.

Let's take a look at one to demonstrate the wealth-building power of ASX shares:

A dominant player cashing in on the digital revolution

REA Group Ltd (ASX: REA) runs online real estate classifieds in Australia along with similar websites for various Asian markets.

The company started with listings site realestate.com.au, which remains a dominant player in Australian real estate. That site has grown spectacularly over the past three decades with the increasing digitisation of property searches and transactions.

However, REA has also done a fantastic job of acquiring a portfolio of brands both within Australia and overseas to expand rapidly.

For example, in Australia, it now owns home loan broker Mortgage Choice and property data provider PropTrack, and has stakes in businesses that facilitate digital real estate transactions.

Outside of Australia, over the years, it has bought assets in the United States, Hong Kong, Indian, Indonesian, Malaysian, Thai and Singaporean markets.

How REA Group shares have performed over two decades

Anyway, that's all to say that on 22 August 2003, the REA share price closed at 38 cents.

Let's say you bought $2,400 of REA shares that day and then resisted the temptation to sell over the last 20 years.

On Friday, the REA share price closed the day at $159.29.

That's a 419-bagger, meaning by now that $2,400 has turned into a cool million!

$1,006,042, to be precise.

How good is that!

Any tips for the next REA Group?

Is it too late to jump on the REA Group bandwagon?

Maybe. According to CMC Markets, four analysts think it's a buy versus four that rate it a sell. Seven recommend holding.

But there are plenty of ASX 200 stocks out there that are less mature than what REA is now. Some of those could turn out to be as explosive over the next 20 years.

Of course, no one knows which ones they are. But if you'd like a starting point to do your own research, a couple of contenders might be Telix Pharmaceuticals Ltd (ASX: TLX) and Lovisa Holdings Ltd (ASX: LOV).

Telix is developing diagnostic and treatment solutions for cancer patients. Many of those are going through trials and regulatory approvals, so if they can make it to the commercial phase, the stock price will presumably rocket.

Lovisa is a budget jewellery retailer rapidly expanding overseas that six out of 11 analysts currently recommend as a buy on CMC Markets.

Motley Fool contributor Tony Yoo has positions in Lovisa and Telix Pharmaceuticals. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa and REA Group. The Motley Fool Australia has recommended Lovisa, REA Group, and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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