Pip is horrified (to put it mildly) and devestating when he learns Magvitch is his benefactor. He is devestated because he truly believed Miss Havisham was his benefactor, and that she was arranging it so Pip could marry Estella. As for being horrified, Pip's true character is revealed at this point: he has become a snob. He has allowed his new position in life (gentleman) to ruin his true person. Pip was once a boy/teenager who knew what it meant to have to work for something, but because of his benefactor, he has grown lazy and greedy. He feels he deserves the money he received; he feels it is his destiny to be a gentleman and to be with Estella. By revealing the truth to him, Magvitch has crushed all of Pip's expectations. Pip feels that Magvitch's money and intent are below him. He despises the criminal in spite of all the criminal has done for him. At the start of the book, the crinimal appears hard and cruel; now it is Pip who is the cruel one.