Volume of a cylinder is πr^2Height
Assuming the height of the tree stays the same, let's say 100'.
Radius is 2' and then we have a 500 year old with a radius of 5'
2' x 100' tree has a volume of 1256'
5' x 100' tree has a volume of 7852'
Trees are made of carbon. Older trees sequester more carbon
Young trees of many species also grow faster, though, and if the old tree dies and decays all that carbon returns to circulation. Forestry, done right, actually is carbon negative. However, it’s also incompatible with the critters that need old-growth forests (and old growth itself soaks up carbon fairly slowly). Environmentalism needs to get better at appreciating tradeoffs IMO.