Yes, not a good idea. Just imagine Trump sets it up, buys TikTok, and it generally does great for four years and the fund controls a trillion dollars of business in the US Economy... and then Gavin Newsom is elected and is in charge of it.
Kinda same thing happened with the Patriot Act.
Okay, Dubya was a "good guy" (I'm not talking about the Iraq War).
What should have happened was that the Patriot Act should have expired at the end of his presidency.