It seems unlikely, but a well-timed investment of just $1,000 can make anyone a millionaire. Certainly not every investment will turn to gold, but for investors seeking opportunities in initial public offerings (IPOs), such as Nvidia and Apple, some have turned that relatively small investment into millions over the years.

Not every IPO is successful. Only 46% of U.S.-based IPOs manage positive first-day returns, according to Ernst & Young. Investing in stocks is already risky, but investing in IPOs carries additional risk.

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Recent IPOs have typically bottomed out soon after launch in recent years, according to Charles Schwab. However, a quick glance at the performance of select IPOs in recent memory reveals stocks that have exploded in value for early shareholders who employed a buy-and-hold approach to the holdings.

A recent study from the trading platform Taurex it revealed that several $1,000 initial investments have turned into millions by mid-2025. Each of the IPOs comes from the tech sector.

“Over 5,000 publicly traded companies exist on major U.S. exchanges, yet only a select few have delivered the huge returns that transform modest investments into generational wealth,” said Taurex.

The platform reviewed major equities and crypto by identifying the IPO price, current value and all corporate actions to identify what a beginning $1,000 investment would turn into by mid-2025.

These are the six stocks that turned a $1,000 investment at IPO into millions.

• Year of IPO: 1999

• First day price: $0.44

• Price in August 2025: $144.69

• $1,000 investment value: $$15,784,364

• Year of IPO: 1997

• First day price: $6.70

• Price in August 2025: $216.10

• $1,000 investment value: $7,740,896

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• Year of IPO: 1980

• First day price: $7.42

• Price in August 2025: $198.42

• $1,000 investment value: $5,990,038

• Year of IPO: 1986

• First day price: $31.10

• Price in August 2025: $479.14

• $1,000 investment value: $4,437,052

• Year of IPO: 2010

• First day price: $1.71

• Price in August 2025: $329.13

• $1,000 investment value: $2,887,105

• Year of IPO: 2002

• First day price: $7.02

• Price in August 2025: $1,225.35

• $1,000 investment value: $2,443,718

Far behind Netflix is Adobe. An initial $1,000 investment at IPO in Adobe would be $717,649 currently. Adobe would need to experience a 39% spike in stock price by the end of 2026 for early investors to hit $1 million. Subsequent equities in the study would have to increase substantially more.