The characteristic polynomial ${{P}_{A}}({{x}_{0}},...,{{x}_{r}})$ of an $r$-tuple $A\,:=({{A}_{1}},...,{{A}_{r}})$ of $n\times n$-matrices is defined as
1$${{P}_{A}}({{x}_{0}},...,{{x}_{r}}):=\det ({{x}_{0}}I+{{x}_{1}}{{A}_{1}}+\ldots +{{x}_{r}}{{A}_{r}}).$$
We show that if $r\,\,3$ and $A\,:=({{A}_{1}},...,{{A}_{r}})$ is an $r$-tuple of $n\times n$-matrices in general position, then up to conjugacy, there are only finitely many $r$-tuples $A'\,:=(A_{1}^{'},...,A_{r}^{'})$ such that ${{p}_{A}}={{p}_{A'}}$. Equivalently, the locus of determinantal hypersurfaces of degree $n$ in ${{\text{P}}^{r}}$ is irreducible of dimension $(r-1){{n}^{2}}+1$.