Here is the problem,.. you are all basing this on what Jon Jones said in an interview with a comedy based talk show.
As far as I know,.. the champs get a new belt each time.
This is even true in the smaller orgs, even among the amateur ranks.
"Empty your mind, be formless, shapeless,... like water" - Bruce Lee
[Yeah, that's right,.. Be like water. Fall on the ground & spread out helplessly.]