Author Edgar Allan Poe no doubt selected the name of this character carefully for his short story, "The Cask of Amontillado." It is used primarily for its ironic intent--Fortunato's journey into the catacombs with Montresor does not end in good fortune nor in a fortunate manner. However, up until this time, Fortunato has lived a good life. A wealthy man, Fortunato obviously has reached a higher social status than Montresor. He comes from an old family, lives in a palazzo himself with the Lady Fortunato, and
... he was a man to be respected and even feared.
Montresor understands this, and it could be part of his desire for revenge.
"You are rich, respected, admired, beloved; you are happy, as once I was. You are a man to be missed."
Fortunato seems incredulous when Montresor pretends to be a Mason, a secret fraternal society whose members are only of the highest status. It seems that Montresor is not worthy of such a position.
Fortunato forgets Montresor's coat-of-arms, perhaps because its significance is inconsequential to a man so powerful and loved. Fortunato fails to recognize that Montresor's repeated addresses to him as "my friend" are only a ruse, and his lofty status in the community may have "dulled his senses" to the recognition that he had any enemies.