Below, an ad from 1965, when it appears to have been introduced:
|Popular Mechanics, April 1965
The tool was patented in 1966 by Edward J. Mahall as a "multiple socket wrench."
The patent was assigned to the Silverbrook Manufacturing Company of Springfield, Massachusetts (and also, apparently, Wayne, New Jersey), which gave it the "Sock-o-Matic" trademark:
While it's a neat idea, the problem is that, since the nested hex inserts are spring loaded, you can't hold a bolt head or nut in the tool in order to start the fastener. So, you'd need to have a separate set of individual nut drivers available to start each fastener, which kind of defeats the purpose of the tool.