One of the most powerful — yet often overlooked — traits in a great company is founder leadership.

Founders tend to think differently. They are often more committed to long-term vision over short-term results. They usually own large stakes in their companies, aligning their incentives with shareholders. And they often bring a passion for innovation that can drive businesses to dominate their industries over time.

On the ASX, there are several founder-led companies that still have enormous potential ahead. Here are three founder-led ASX 200 shares with serious long-term upside.

Goodman Group (ASX: GMG)

The first ASX 200 share to look at is Goodman Group, one of Australia's greatest real estate success stories, steered by its founder and CEO, Greg Goodman.

Goodman isn't just another property company. It focuses on high-quality industrial and logistics assets — the critical warehouses, distribution centres, and infrastructure that underpin global e-commerce and digital economies.

What sets Goodman apart is arguably Greg Goodman's relentless focus on quality and innovation. Rather than chasing easy short-term wins, Goodman Group carefully develops, owns, and manages prime assets in strategic locations worldwide. Its scale, reputation, and development pipeline give it an edge few can match.

The good news is that Citi believes this trend can continue. As a result, it has put a buy rating and $40.00 price target on its shares.

Life360 Inc. (ASX: 360)

Another founder-led ASX 200 share to consider buying is Life360. It is a fast-growing tech company led by founder and CEO Chris Hulls.

Life360 is best known for its eponymous family tracking and safety app, which helps millions of families worldwide stay connected. More recently, it has expanded into complementary services like hardware (with the acquisition of Tile) and emergency response features, tapping into a broader ecosystem around personal and family security.

Life360 is still in the growth phase, reinvesting heavily to scale its platform, improve monetisation, and expand globally. With strong subscriber growth, a new advertising business, growing premium service uptake, and major addressable markets still ahead, Life360 could have enormous upside for patient investors.

Goldman Sachs believes this is the case. It has put a buy rating and $27.00 price target on its shares.

Pro Medicus Ltd (ASX: PME)

Finally, Pro Medicus could be an ASX 200 share to buy. It is the healthcare imaging technology company led by co-founder Dr Sam Hupert.

Pro Medicus provides cutting-edge imaging software, helping hospitals and health networks manage vast volumes of diagnostic images faster and more efficiently. Its flagship product, Visage Imaging, is trusted by some of the world's leading healthcare providers, particularly in the United States.

Under Dr Hupert's leadership, Pro Medicus has built a business with incredible operating margins, recurring revenue growth, and a capital-light model that generates outstanding returns on equity.

Goldman Sachs believes there's still plenty more growth to come. It has put a buy rating and $309.00 price target on its shares.