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You may hold 20 different stocks in your portfolio, but to get rich, all you need is for just some of those stocks to become multibaggers in the coming years. In other words, think of growth stocks that could potentially be unstoppable if they can make the most of the opportunities ahead. In a decade or so, these stocks could grow your wealth exponentially. 

Here are three such growth stocks with explosive potential in the next decade and beyond, each riding an indisputable megatrend.

The power of dividends in clean energy

You’d be hard-pressed to find a renewable-energy stock on a list of growth stocks, but Brookfield Renewable (NYSE:BEP)(NYSE:BEPC) has pretty much all the characteristics that a stock with exponential growth potential should have: scale, a huge addressable market, and an underlying secular trend that’s changing the world. Let me explain.

Brookfield Renewable is the one of the world’s largest and most diversified pure-play renewable stocks, with operations across four continents in hydropower, wind, and solar. Its size and scale means the company already has massive foothold in the industry and will be hard to displace. With the International Energy Agency projecting renewables to account for one-third of the world’s electricity by 2025, Brookfield Renewable is potentially sitting on a trillion-dollar market.

A chlld playing with a toy rocket strapped to her back.

Image source: Getty Images.

Already, Brookfield Renewable has 31 gigawatts (GW) of assets under development, compared with 20 GW of assets under operation right now. That should reflect in the company’s top line in the coming years.

Brookfield Renewable, in fact, has already given a glimpse of what to expect in the medium term: It expects its funds from operations (FFO) per share to grow 6% to 11% organically through 2025, with another potential 9% growth if the company can find meaningful acquisition opportunities in between. That also means Brookfield Renewable could comfortably reward shareholders with 5% to 9% dividend increases every year even without inorganic growth, which could eventually add up a lot to shareholder returns over the next decade as it has in the past.

Not just any other e-commerce stock

Shopify‘s (NYSE:SHOP) platform gives pretty much anyone a chance to start an online business and run it, with end-to-end management right from inventory to payments to sales channels. Shopify wants to make it easy to build and manage an online store. As simple as it sounds, it’s a really powerful concept that strives to empower people, entrepreneurs, and small businesses in particular, which is where the company’s growth potential lies, especially in a world that’s increasingly going digital in the wake of the COVID-19 pandemic.

Shopify’s revenue crossed the $1 billion mark for the first time in a quarter, and its gross merchandise volumes hit an astounding $42.2 billion. Importantly, the company also turned a net profit of $879.1 million in Q2. Shopify’s popularity in the U.S. is already growing rapidly, and it’s only a matter of time before the company establishes itself as a major e-commerce player in international markets. Shopify Markets, a hub that allows merchants to sell globally, is just one of the many moves Shopify is making to grow internationally.

The best part is that Shopify is already profitable and has a solid balance sheet, with low debt and high cash, which is unheard of in growth companies especially in an industry like e-commerce. It’s also a founder-led company, and that improves the chances of Shopify succeeding in the long run manifold. Eventually, Shopify’s success will be every shareholder’s success.

Revolutionizing a critical industry

Upstart Holdings (NASDAQ:UPST) stock has a frothy valuation of 60 times sales right now, but that’s how growth stocks behave. Upstart is, in fact, growing its top line at breakneck speed: Its revenue surged 1,018% in the second quarter, helping the company turn a profit versus a loss in the year-ago period. Upstart is evidently attracting more banks and customers given the 1,600% jump in loans originated on its platform in Q2.

This could just be the beginning as Upstart expands into newer, larger markets.

Instead of the traditional FICO credit score, Upstart uses artificial intelligence (AI) to screen borrowers based on more than 1,500 data points, and therefore helps partner banks originate low-risk loans while offering borrowers access to quick, affordable credit. Notably, 71% of all loans in its second quarter were automated and approved instantly.

Most of these were unsecured personal loans, which has been Upstart’s focus so far. But now, the company is aggressively expanding into auto refinance, which should be its biggest growth catalyst. It’s a $635 billion market, based on total auto loan originations in the U.S. between Q2 2020 and Q1 2021. On Oct. 6, Upstart launched auto loans on its Upstart Auto Retail tool that helps franchised dealers from top auto brands to sell new and used cars. More than $1 billion worth of vehicles was sold through Auto Retail in just the second quarter.

With Upstart also eyeing markets like credit cards, mortgages, student loans in the long run and the company already profitable, there could be no stopping this growth stock in the next decade and beyond.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.