An important reason for the long term success of the Linux project has been how Linus Torvalds has kept the VC at bay mainly by keeping them at a distance with a total of only about $100 million in net worth (not measured in billions, a factor of 10 or more poorer than other similar tech founders). The Linux foundation appears to have been co-opted by its corporate sponsors like some other well-known foundations as individuals are no longer eligible for membership in the board of directors:

Members of the foundation's board of directors are elected by corporate members (higher-paying members electing more directors). Membership was also open to individuals (enabling them to collectively elect two directors and individually run for one of those two seats) until January 2016, when those provisions were eliminated. Individuals can now only be "supporters".

Still, Linus Torvalds is a great example of principled open source leadership and how to retain the independence/freedom of your project.