2 ASX shares that could turn $100,000 into $1 million

Turning $100,000 into $1 million at the drop of a hat is every investor’s dream. But it’s not as easy, quick or risk-free as you’d think. 

This type of growth usually requires years of patience, strong earnings growth, and a bit of luck. But here are two ASX shares with the scale and growth potential to make it happen.

WiseTech Global Ltd (ASX: WTC)

WiseTech provides logistics software to help improve global supply chains. The business already dominates the market, and it comes from a runway of a decade of mostly-consistent growth. 

Its share price climbed pretty consistently over this period too. Or at least, they did, until 2025. 

The ASX logistics software provider hit a couple of huge headwinds last year which sent the share price crashing.

It posted some disappointing financial results, suffered a boardroom fallout, and not to mention the AFP and ASIC raid on its Sydney office. Several consecutive events over a short period of time slashed investor confidence and they quickly offloaded their stock.

But it’s worth noting that despite the confidence crash, as a business, WiseTech is incredibly strong.The company is continually expanding operations and it has a proven track record of growth through various economic cycles and challenges.

WiseTech is well-positioned to benefit from long-term trends, including cloud computing, automation, and overall AI adoption. 

If it continues expanding at the same rate, its earnings could quickly compound and could see supersized returns.

The best part is, at just $50 a piece at the time of writing, the shares are super cheap right now. Some analysts think this could rocket up to $169.14 within the next 12 months. That’s a huge potential 238.52% upside for investors.

Xero Ltd (ASX: XRO)

Cloud cloud-based, accounting software company Xero has a subscription-based model which offers monthly plans at various price points. It means that its business model is “sticky” with a high retention rate. As a result, Xero is able to benefit from recurring revenue, global exposure and profitability. 

The ASX business is actively expanding the products it has on offer. In 2025 it rolled out new features like online bill payments and customisable pages to make its software more appealing to more small and medium-sized businesses.

It’s actively expanding its global presence too. Xero acquired Melio as part of its strategy to grow its US business. It expects that by integrating a US payments platform with its current accounting software, it will be able open up new revenue streams for the business and accelerate its presence in the US small-business market.

The ASX business is still early in its global expansion too. If it is able to crack the US market and become more dominant, while maintaining its position and revenue in other markets, its earnings could surge too.

Like WiseTech, Xero shares are a steal right now. They’re currently trading at $82.11 a piece and I’m quietly confident that the ASX shares could double in value in 2026, or go even higher.

The post 2 ASX shares that could turn $100,000 into $1 million appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.