They're both correct. It depends what you want to say.

The first is incorrect. It sounds like "being controlled by possessions" is another description of "the result" so, that being the case, it needs to be enclosed with 2 comas (,). I am going to show you using some examples of how they should be used in full sentences. I'm going to change the first sentence to let it make more sense too. 1. Tom, being controlled by his desires, has been acting strangely lately. 2. This set of results, being controlled by unknown sources, cannot be trusted. 1. The result of being controlled by (a need for material) possessions is a (feeling of insecurity/materialistic society). Can you see the difference between the 2 types? In the first, it needs to be enclosed within 2 comas and it acts as an additional description of the noun (Tom/this set of results) that is related to what you are trying to say but does not directly lead to it. In other words, A, additional description of A, is something/doing something. In the second, "the result of being controlled by (noun)" is really your noun or your topic! You are saying that "the result of being controlled by (noun)" is something. "being controlled by..." is not just and additional description. You are really saying that A (your complex noun) leads to B.

They mean different things. I imagine you're aiming for the meaning of the latter, so that would be better. The former sounds more "marked" as an utterance and does not mean the same thing as the second.

Thank you :-)

It really depends on the context, but they are both technically correct statements. The first statement sounds like an academic context e.g. a report or an essay and you are specifically mentioning the result of an experiment or test. The second statement sounds a lot more general and would not seem as strange in an informal spoken context.