The company itself is performing things that are valuable, but he's not doing those actions personally. Of the three types of wealth acquisition, making money from an ownership position is extraction.
If the workers don't show up to create value for him and for the company, they don't get paid. They're creating some value by packing boxes, that contribution might be worth $25/hr, but they've only been able to negotiate $18/hr of that value creation. They're probably handling goods worth tens of thousands of dollars per hour where that wealth is exchanged between end consumers and manufacturers, but they're not charging a commission to the buyers based on a percentage of that transaction.
For Jeff, though, he's not personally adding value to the company in proportion to his personal contributions of labor or ideas or memos. Instead, because of his ownership of approximately 10% of the company, he's a dead weight on transactions regarding the other 90%. He extracts some of the money moving between those other people on the market.
I admit that there's definitely an element of risk that's not well covered by this simple three-category model, but I question whether taking a risk from a position as a VP of a hedge fund (another primarily extraction-based operation) morally ought to have an upside worth $200B.