The only meaningful example of this I can think of is Larry Wall and Perl...but his mistake was in loosening his grip instead of tightening it. Perl6 started off as a utopia wherein Larry was only considered slightly more powerful than any other contributor. This resulted in a revolving door of clowns taking the reigns and rapidly resigning as Larry looked on.
Fortunately Perl5 still does the Pumpking thing which is effectively a rotating BDFL.