A person who has GOT everything probably hasn't DONE everything. So I'd be seeking some sort of 'experience' for them. Depending upon my budget (and how much I liked them!) I might give them a course driving a racing car, a llama-trekking day, a balloon flight or just a couple of theatre tickets.
A person can have nothing but not necessarily be in immediate need of anything in particular. If they did need something, such as a new coat or to have their freezer re-stocked with food, that's what I'd go for. Otherwise though, I might still opt to give them the 'experience' that I'd give to the other person, since it would probably be something which they'd never be able to buy for themself.
Chris