Need something newly invented for the man who has everything and loves tools. Thanks for any pointers.
Any type of tools? What’s he into- carpentry, metalworking, plumbing?
A quality cordless drill and impact driver might be a good choice. If you think he’ll use it a lot two good brands are Milwaukee and DeWalt. Ryobi is more of a consumer level quality, but they do have a wide variety of tools available.
What bobot said.
But, this is a pretty recent development I think. Oscillating Multi-Tool. I saw one in use and had to have it. When a SawzAll just won’t quite work. Great for tight quarters and close work. It’s really for carpentry, when you have to make something fit.
I recommend an activity rather than a tool.
Look into Makerspace directory and spot a class/activity near you. It can be an activity like making ceramics, glass blowing, blacksmithing, leather works, 3-D printing etc etc
We need to know something more about what he does with tools, and what your price range is. Newly invented tools are often very specialized and useless to most people. Instead think about going the other direction and look at antique and vintage tools. Having just about everything else I’ve started down this route. He may like something to restore himself, or something already restored. Old wood body hand planes are popular, as are old high quality power tools.
Speaking of both of these, if the OP is looking for power tools, Home Depot is running a huge sale on Ryobi tools. I picked up two batteries and a multi-tool for $99 and a finish nailer for another $99.
I usually walk past this kind of stuff, but two batteries and a charger for $99 seems like a good price and it came with a free tool (I picked the multi tool but there’s about 15 others to choose from).
But, like other’s said, you’ll have to narrow down ‘newly invented’ to a field. For example woodworking uses very different tools than electrical work or welding or sheet metal sculpting etc.
I was watching TV with my dad the other day and a commercial for the Walabotstud finder came on. He immediately said “I want that” even though he doesn’t really need any more tools or do anything that requires stud finding.
[Moderating]
Since this is asking for advice, I’ll move it over to IMHO. General Questions is for questions with a factual answer, which this one really doesn’t have.
If you were my daughter, I’d really appreciate a high torque 1/2" cordless impact wrench with a good a battery. But, since you aren’t, I agree with everyone else here that we need to know a bit more about what your father does with his tools to give a better suggestion.
Also I’m a little interested in why ‘newly invented’ is important.
I’ve kind of got to go with TriPolar here. Pending more information about your father’s specific interest, go with something classic, well made and historically interesting. I doubt that modern, mass produced tools that he may not even be interested in using will mean as much to him.
If he has everything, and loves tools, one thing that he can certainly use is sets of drill bits, nut drivers, saw blades, etc. When you are using tools, those break or wear out (or just get misplaced) and tool guys really enjoy having a nice, new, complete set.
He wants a router. He’ll never buy one cuz he needs something else. But he really, really wants a router. And maybe a jig to help him use it. 
This is a good idea. Especially the drill bits. They get dull and most folks don’t have to equipment nor skill to sharpen them.
Anything from Dead-On but especially the 18 inch ANNIHILATOR. You would be surprised how handy it can be from wrecking things to general around-the-house chores. I keep a couple handy including one that lives in the car at all times.
If he already has an older cordless set with nicad batteries you could look for Li ion adapter conversion battery and charger.
The thought behind this is that many people have 18V tools and are faced with replacing a bunch of 18V Ni Cad batteries because they’ve reached their life cycle. It’s expensive to do this and the power the Ni Cad’s are limited to start with. Li Ion batteries have more power to start with. 5,000 ma vs a 3500 ma makes a big difference in performance.