ELI5 Ampersand - the 27th member of the alphabet?

ELI5 Explain Like I'm 5: Bite sized answers to stuff you should know about - in a mini podcast

Why does the ampersand exist? Why do movie credits have a specific use of the ampersand? When did it stop being the 27th member of the alphabet? What does ‘per se’ mean in the context of the ampersand? Why is the ampersand written the way it is?

... we explain like I'm five

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: moongosling, uniqueusername014, jayman419 and kaffekalle.

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